Qatar Airways Q.C.S.C. announced that it has entered into an agreement to purchase an amount of 378,188,000 shares of Cathay Pacific Airways Limited (“Cathay Pacific”), which is approximately 9.61 per cent of the total issued share capital.
Completion of the transaction took place yesterday in Hong Kong.
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."
He continued: "Cathay Pacific is a fellow one world 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.
Qatar Airways, which is the world’s fastest-growing airline, will also add a number of exciting new destinations to its growing network in 2017/18, including St. Petersburg, Russia, Chiang Mai, Thailand; Canberra and Australia.