Qatar Airways has entered into an agreement to purchase an amount of 378,188,000 shares of Cathay Pacific Airways, being approximately 9.61 per cent of the total issued share capital. Completion of the transaction was expected to take place yesterday (Monday, November 6) in Hong Kong.
Qatar Airways group CEO 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 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 a 20 per cent investment in International Airlines Group, 10 per cent investment in LATAM Airlines Group and 49 per cent investment in Meridiana, a statement said.