Subscribe Free
in Business & Finance

Qatar takes shareholding interest in Cathay Pacific

Posted 6 November 2017 · Add Comment

Qatar Airways has continued its investment strategy with the purchase of 378.18 million shares of Cathay Pacific Airways Limited accounting for just under 10% of the Hong Kong airline's stock.


Completion of the transaction is expected to take place later today.
With the purchase complete, Qatar will become the third biggest shareholder of Asia’s largest international airline.
The Doha carrier agreed to buy 9.61 percent of the total issued share capital $1.75 per share from Hong Kong industrial company Kingboard Chemical, according to a stock exchange filing.
CEO Akbar Al Baker described Cathay as “one of the strongest airlines in the world, respected throughout the industry and with massive potential for the future.” Both airlines are members of the One World alliance.
An earlier bid by Qatar Airways to buy into another One World airline – American Airlines – was rejected by the US carrier
 

* required field

Post a comment

Other Stories
Advertisement
Latest News

First EgyptAir A220-300 makes maiden flight

The first A220-300 for EgyptAir has successfully completed its inaugural test flight from the Mirabel assembly line. The first of 12 aircraft EgyptAir has on order is due to be delivered to the Cairo-based airline in the coming weeks.

Etihad Airways celebrates 15 years in India

Etihad Airways is preparing to celebrate 15 years of service to its largest and busiest market, India. The airline’s milestone coincides with the third visit to the UAE of India’s Prime Minister, Narendra Modi.

Oman Air Cargo rolls out its mobile App solution using ‘SmartKargo’

Oman Air Cargo has successfully launched the mobile App to all Oman Air Cargo customers including Shippers and Freight Forwarders.

IATA's WFS to focus on sustainable future

The International Air Transport Association (IATA) announced that the 2019 World Financial Symposium (WFS) will focus on the theme of airlines, IATA and partners working together to shape a sustainable future.

Emirates Aviation University introduces a special package for international students

Emirates Aviation University has introduced an “international student study package”, offering financial benefits and support to international students.

DC Aviation celebrate 20 years of business

German company DC Aviation, which has the successful DC Aviation Al-Futtaim operation in Dubai, is celebrating 20 years of operations.

TAA SK0907311219
See us at
MEBCONBT1607240919DIAC19_BT264161119AVAFA20BT2607050320Dubai AS BT2006211119BIDEC BT0108301019MEBAAMORBT2006260919