Qatar Airways to buy up to 10% of Cathay Pacific

Nov 06, 2017 No Comments by

Qatar Airways has announced that an agreement has been reached to purchase up to 378,188,000 shares in fellow oneworld Alliance airline, Cathay Pacific. This would give Qatar Airways a 9.61% stake in the Hong Kong based carrier. The transaction by Qatar Airways relates to the sale of Hong Kong’s Kingboard Chemical, an investment holding company, which is set recognise a gain of HK$800 million on the sale.

Cathay Pacific’s share register is considered quite dense. comprised of a 45% holding by Swire Pacific and 30% by Air China.

Qatar Airways has numerous investments in other airline groups. It has a 20% holding in International Airlines Group. parent company to British Airways, Iberia and Aer Lingus, in addition to a 10% stake in South America’s LATAM Airlines Group. Qatar Airways most recent investment has been in Italy’s Meridiana with a 49% stake. The deal with Cathay Pacific is expected to be concluded in Hong Kong by 06 November 2017.

Airline News, Cathay Pacific, Qatar Airways, Uncategorized

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