Qatar Airways, the national carrier of the State of Qatar, is pleased to announce that it has entered into an agreement to purchase an amount of 378,188,000 shares of Cathay Pacific Airways Limited (Cathay Pacific), being approximately 9.61 per cent of the total issued share capital. Completion of the transaction is expected to take place later today in Hong Kong.
Air China Limited and Swire Pacific Limited together continue to hold 74.99 per cent shares of Cathay Pacific Airways.
Qatar Airways Group Chief Executive, His Excellency 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.”
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."
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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