Qatar Airways buys 9.6% of Cathay Pacific
November 6, 2017 : Qatar Airways announced that it has entered into an agreement to purchase of a total number of 378,188,000 shares of Cathay Pacific Airways, being approximately 9.61 percent of the total issued share capital.
Both Cathay Pacific and Qatar Airways collaborate together as members of the Oneworld alliance. Air China Limited and Swire Pacific Limited together continue to hold 74.99 percent shares of the airline.
Qatar Airways Group chief executive, 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 percent investment in International Airlines Group, 10 percent investment in LATAM Airlines Group and 49 percent investment in Meridiana.”
“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,” said Rupert Hogg, chief executive officer, Cathay Pacific.