Founded in Hong Kong in 1946, Cathay Pacific Group's history is intricately linked with Hong Kong's development into a world class city. The Group remains deeply committed to its home base, making substantial investments to develop Hong Kong as one of the world's leading global transportation hubs. Cathay Pacific and its subsidiaries employ over 27,500 people worldwide.
Our investments include aircraft fleet, airline services, catering services, ground handling, our corporate headquarters at Hong Kong International Airport (HKIA) and most recently, the new cargo terminal adjacent to HKIA. Cathay Pacific has its own listing on the Hong Kong Stock Exchange, with Swire Pacific and Air China as its two major shareholders, and whose shares increased in 2010 to 42.97% and 29.99% respectively. Driven by the strategic priorities of Cathay Pacific, we completed the sale of our 15% shareholding in the Hong Kong Aircraft Engineering Company Limited (HAECO) in June 2010. However our longstanding operational relationship with HAECO remains unchanged.
Air Hong Kong is the only dedicated freighter airline based in Hong Kong. In October 2002, Cathay Pacific entered into a business partnership with DHL Express to develop an express freight network which currently serves 11 Asian destinations. DHL Express is the major customer and the bulk of the cargo is express parcels. The remaining cargo is general freight.
Air Hong Kong shares services with Cathay Pacific as part of the joint venture, such as engineering, flight operations, planning and building services. The company's offices are located within Cathay Pacific City. In the same way, most of its impacts are managed jointly with Cathay Pacific. Air Hong Kong, as part of the Cathay Pacific Group, also remains committed to minimising its sustainability impacts, at the same time maximising its benefits.
| Major subsidiaries and associates in 2010 | |
| Cathay Pacific Catering Services (HK) Limited | 100% |
| Cathay Pacific Holidays Limited | 100% |
| Hong Kong Airport Services Limited | 100% |
| Hong Kong Dragon Airlines Limited | 100% |
| Vogue Laundry Service Limited | 100% |
| Air Hong Kong Limited | 60% |
| Air China Limited | 19.27% |