Shares in British Airways jumped 4.3 per cent in a weak market today on rumours that Cathay Pacific was planning a bid, traders said.
No immediate comment was available from British Airways.
At 3.15pm, British Airways shares were up 5.2 per cent at 149.3 pence, the top gainers on the FTSE 100 benchmark, which was down 4.3 per cent.
"A bid by Cathay Pacific for British Airways makes sense ... BA has a huge network in Asia that it could just replace with Cathay Pacific's," an analyst said.
Reuters
