China Eastern Airlines rose 1.7%, Air China gained 1.9%, and Cathay Pacific Airways added 3.5%.

WSJ: Asian Shares Rise

The relationship between Air China and Cathay Pacific Airways appears to be growing even closer.

FORBES: Air China Leads Cathay Into Shanghai

It is probably best known for its majority ownership of Cathay Pacific Airways.

FORBES: Blowing Bubbles In Hong Kong

Two foreign carriers expressed an interest in PAL: Cathay Pacific Airways of Hong Kong and Northwest Airlines of the U.S. When executives from both companies met with Estrada last year, they were accompanied by Manuel Zamora.

CNN: THE TROUBLESHOOTERS

Cathay Pacific Airways Ltd.

ECONOMIST: The Philippines

The hope is that taking to the air with launch customers such as Singapore Airlines will lead to further orders from other carriers, such as Cathay Pacific and British Airways, which fly busy long-haul routes.

ECONOMIST: The biggest shareholders in EADS are preparing to sell up

Industry insiders are convinced that, by Easter, Airbus will have landed a Chinese order for the plane, while leading carriers such as Cathay Pacific and British Airways are merely sitting temporarily on the sidelines, waiting for the inevitable teething troubles to be sorted out and for the even bigger versions of the new aircraft expected before long.

ECONOMIST: Airbus unveils its double-decker for a new era in aviation

China Airlines, Thai Airways, Cathay Pacific and Dragonair have all cancelled routes or reduced their frequency.

ECONOMIST: Getting better, or worse? | The

The merged carrier would continue American's participation in the OneWorld alliance, which was founded by American, British Airways, Cathay Pacific and Qantas.

WSJ: What an American-US Airways merger means for you

Mr Dixon said on Sunday that Singapore Airlines would make a good partner, but added that so would other carriers such as British Airways, Hong Kong-based Cathay Pacific and Air New Zealand.

BBC: NEWS | Business | Qantas 'likely to merge by 2015'