Air China and Cathay Pacific were named joint winners of the prestigious CAPA Airline of the Year Award for 2006 at a gala reception in Singapore on 9 November.

Air China Chairman, Li Jiaxiang, and CEO of Cathay Pacific, Philip Chen, received the award before 300 distinguished members of the aviation community.

Executive Chairman of the Centre for Asia Pacific Aviation, Peter Harbison, explained that the Air China-Cathay Pacific breakthrough agreement announced mid-year has significant competitive ramifications throughout Asia and beyond, and, furthermore, has the potential to influence policy settings that could unleash further industry liberalisation and growth.

"It creates the foundations for what could be the world's leading airline by 2015. This breathtaking agreement has seen a realignment and simplification of ownership structures that promises to unlock significant gains in efficiency, productivity and network strength," said Mr Harbison.

Other winners included:

• Singapore Changi Airport named CAPA International Airport of the Year;
• Tiger Airways CEO, Tony Davis, accepted the CAPA Low Cost Airline of the Year;
• YB Dato' Sri Chan Kong Choy, Minister of Transport Malaysia, recognised as the CAPA Aviation Minister of the Year;
• Geoff Dixon, CEO of Qantas, accepted the CAPA Aviation Executive of the Year;
• Malaysia Airlines CEO, Idris Jala, accepted the CAPA Airline Turnaround of the Year;
• Dato' Seri Bashir Ahmad, Managing Director of Malaysia Airports Holdings Berhad, operator of Kuala Lumpur Low Cost Carrier Terminal, accepted the CAPA Low Cost Airport of the Year;
• Cathay Pacific CEO, Philip Chen, accepted the CAPA Cargo Airline of the Year;
• Bangkok Airways was named CAPA Regional Airline of the Year;
• Singapore Tourism Board was named CAPA National Tourism Organisation of the Year;
• Polynesian Blue was named CAPA New Airline of the Year; and
• Bangkok Suvarnabhumi Airport was named CAPA New Airport Company of the Year.