Air China plans IPO and may acquire Cathay: reports

Air China Ltd., the mainland's largest international airline, is selecting investment banks to take the company public as it seeks capital to establish bases in Guangzhou and Shanghai, The Standard reported in Hong Kong, quoting a civil aviation official. Air China is in talks with Swire Pacific Ltd. that could see Air China acquire Swire's 45% owned-Cathay Pacific Airways Ltd, according to Hong Kong's South China Morning Post, quoting sources in the affected companies.