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Cathay Pacific says no plans to buy BA
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Posted 23 October 2008 @ 08:03 am GMT
Cathay Pacific Airways, Asia's No. 3 carrier, denied market talk it was planning a takeover bid for British Airways after BA's shares jumped 4.3 percent in London on the bid rumours.
REUTERS/Toby Melville
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easyJet expects high load factor for GB Airways"These rumours are unfounded. We have no plan to buy British Airway," a Cathay Pacific spokeswoman said in an e-mail to Reuters.
British Airways' shares, which have more than halved this year, closed at 148 pence on Wednesday and were the top gainer on the FTSE 100 benchmark, which fell 4.5 percent.
On Thursday, Cathay Pacific shares were down 2 percent, outperforming a 4.7 percent fall in the broader market.
British Airways said it did not comment on rumours and speculation.
(Reporting by Joanne Chiu in Hong Kong; Editing by Anshuman Daga)
Copyright 2008 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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