Cathay Pacific and became a successful businessman. Swire later acquired 52% of Cathay Pacific Airways. , the airline is still 45% owned by Swire Group through its subsidiary Swire Pacific Limited, as the largest shareholder. However, Swire Group also formed a shareholders' agreement with the second largest shareholder Air China (which was controlled by state-owned China National Aviation Holding), which Cathay Pacific and Air China had a cross ownership. In the late 1940s, the Hong Kong government divided the local aviation market between Cathay Pacific and its only local competitor, the Jardine Matheson-owned Hong Kong Airways: Cathay Pacific was allocated routes to
SS Cathay (1924) overloaded escorts and brought the survivors to Freetown without further incident. On 5 February 1942, the "SS Cathay" was returned to P&O and refitted as a troopship by the Bethlehem Steel Corporation at Brooklyn; it entered service again on 30 April of the same year. The "SS Cathay" was part of Operation Torch, which consisted of British and American troops invading French North Africa. It disembarked troops west of Algiers at the beginning of Operation Torch on 8 November 1942. While the "SS Cathay" was returning to the port of Bougie, Algeria from Algiers on 11 November 1942, it was