TravelNewsAsia.com
Tue, 7 Nov 2017

Qatar Airways Acquires 9.61% of Cathay Pacific

Qatar Airways has acquired 378,188,000 shares of Cathay Pacific Airways, approximately 9.61% of the airline.

 Both Cathay Pacific and Qatar Airways are members of the oneworld alliance.

Commenting on the share acquisition, Cathay Pacific Chief Executive Officer, Rupert Hogg, said, “Qatar Airways is one of the world’s premier airlines. We already work together closely as fellow members of the oneworld alliance and we look forward to a continued constructive relationship.”

Cathay Pacific aircraft flying over Hong Kong. Click to enlarge.

Air China and Swire Pacific together continue to hold 74.99% of Cathay Pacific’s shares.

Qatar Airways Group Chief Executive, Mr Akbar Al Baker, said, “Qatar Airways is very pleased to complete its financial investment in Cathay Pacific. Cathay Pacific is a fellow oneworld member and is one of the strongest airlines in the world, respected throughout the industry and with massive potential for the future.”

 This investment further supports Qatar Airways investment strategy which already includes 20% investment in International Airlines Group, 10% investment in LATAM Airlines Group and 49% investment in Meridiana.

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