Henry Fok
Chao was a co-founder of Dragonair airlines in 1985, with shipping magnate Pao Yue-Kong and Hong Kong-based businessman Henry Fok, along with investments from China Merchants Group and China Resources. The carrier was Hong Kong's first Chinese-owned airline. The company was subsequently sold to Hong Kong's flag carrier Cathay Pacific in 2006. The carrier was subsequently renamed Cathay Dragon in 2016, and ended operations in 2020 during the COVID-19 pandemic.