On 1 July 1997, the administration of Hong Kong was transferred from the UK to the People's Republic of China. Most of the airline's aircraft were registered in Hong Kong with a registration beginning with "VR". Under the terms of an agreement within the Sino-British Joint Liaison Group (JLG), all registrations were changed by December 1997 to the prefix "B" used by the People's Republic of China and the Republic of China (Taiwan). Cathay Pacific aircraft formerly carried a painted UK Union Flag on the tail, but these were removed several years before the 1997 takeover.
On 21 May 1998, Cathay Pacific took the first delivery of the Boeing 777-300 at a ceremony in Everett. In 21 September 1998, Cathay Pacific, together with American Airlines, British Airways, Canadian Airlines, and Qantas, co-founded the Oneworld airline alliance. The airline was hurt by the Asian financial crisis of the late 1990s, but recorded a record HK$5 billion profit in 2000.
On 1 July 1997, the administration of Hong Kong was transferred from the UK to the People's Republic of China. Most of the airline's aircraft were registered in Hong Kong with a registration beginning with "VR". Under the terms of an agreement within the Sino-British Joint Liaison Group (JLG), all registrations were changed by December 1997 to the prefix "B" used by the People's Republic of China and the Republic of China (Taiwan). Cathay Pacific aircraft formerly carried a painted UK Union Flag on the tail, but these were removed several years before the 1997 takeover. On 21 May 1998, Cathay Pacific took the first delivery of the Boeing 777-300 at a ceremony in Everett. In 21 September 1998, Cathay Pacific, together with American Airlines, British Airways, Canadian Airlines, and Qantas, co-founded the Oneworld airline alliance. The airline was hurt by the Asian financial crisis of the late 1990s, but recorded a record HK$5 billion profit in 2000.
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