Cathay Pacific Airways, Hong Kong's flagship carrier, is set to win the right to fly the Hong Kong-Shanghai route this year, a local newspaper reported on Wednesday.

The Standard cited a spokeswoman for the General Administration of Civil Aviation of China (CAAC), who said that Cathay could obtain approval to fly the route linking Hong Kong and Shanghai this year but declined to give a firm time frame.

The comments came after CAAC chairman Yang Yuanyuan said Cathay would eventually get approval to serve the mainland's commercial cities, the newspaper said.

Shanghai would be Cathay's third destination in the mainland after Beijing and Xiamen, the newspaper added.

The newspaper also quoted Cathay's chief executive Philip Chen as saying the carrier is ready to launch services to Shanghai.