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 Qatar Airways strategic exit from Cathay Pacific after eight years
Qatar Airways has sold its entire 9.57% stake in Cathay Pacific Airways for approximately US$897 million, officially ending its eight-year shareholding in Hong Kong\“s flagship carrier on Wednesday.
In order to implement the current move, the Doha-based airline approached Cathay Pacific about selling its entire 9.6% holding, which Cathay agreed to buy back at $1.4 per share, subject to the approval of its independent shareholders. Advertisement
Meanwhile, the state-owned flag carrier of Qatar became Cathay Pacific’s third-largest shareholder in 2017 when it secured a stake from Hong Kong-based Kingboard Chemical Holdings and other companies for $662 million.
This purchase was the first prime investment by a Middle Eastern carrier in an East Asian airline.
In this regard, Qatar Airways CEO Badr Mohammed Al-Meer released a statement by Cathay stating, “This decision is part of a proactive strategy to optimize our investments and position the group for long-term growth.”
Following the current situation, Cathay and Qatar will continue to collaborate through existing alliance partnerships.
Qatar Airways has invested in several airlines across the world over the last decade. This year, it has bought a 25% stake in Virgin Australia, and it is completing a 49% investment into Rwandan flag carrier Rwand Air.
The current shift underscores the amicable financial exit for Qatar Airways and contributes to building strong confidence and a desire for a streamlined repurchase for Cathay Pacific. |
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发表于 2025-11-7 06:54:39