Qatar Airways announced acquisition of 9.61% of Cathay Pacific

Qatar Airways has announced today that it has acquired approximately 9.61 per cent stake in Cathay Pacific Airways. Both Cathay Pacific and Qatar Airways collaborate together as members of the oneworld alliance.

Qatar Airways has entered into an agreement to purchase an amount of 378,188,000 shares of Cathay Pacific Airways 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.

“Qatar Airways is very pleased…”

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.”

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.”

Air China Limited and Swire Pacific Limited together continue to hold 74.99 per cent shares of the airline.

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.”

About Qatar Airways

Qatar Airways, the national carrier of the State of Qatar, is celebrating 20 years of Going Places Together with travellers across its more than 150 business and leisure destinations. The world’s fastest-growing airline will add a number of exciting new destinations to its growing network in 2017/18, including St. Petersburg, Russia; Chiang Mai, Thailand; Canberra, Australia and many more, flying passengers on board its modern fleet of more than 200 aircraft.

A multiple award-winning airline, Qatar Airways was recently named ‘Airline of the Year’ by the 2017 World Airline Awards, managed by international air transport rating organisation Skytrax. It was also named ‘World’s Best Business Class,’ ‘Best Airline in the Middle East,’ and ‘World’s Best First Class Airline Lounge.’

Qatar Airways is a member of the oneworld global alliance. The award-winning alliance was named the World’s Best Airline Alliance 2015 by Skytrax for the third year running. Qatar Airways was the first Gulf carrier to join global airline alliance, oneworld, enabling its passengers to benefit from more than 1,000 airports in more than 150 countries, with 14,250 daily departures.

Oryx One, Qatar Airways’ in-flight entertainment system offers passengers up to 4,000 entertainment options from the latest blockbuster movies, TV box sets, music, games and much more. Passengers flying on Qatar Airways flights served by its B787, A350, A380, A319 and select A320 and A330 aircraft can also stay in touch with their friends and family around the world by using the award-winning airline’s on-board Wi-Fi and GSM service.

Qatar Airways Cargo, the world’s third largest international cargo carrier, serves more than 60 exclusive freighter destinations worldwide via its world-class Doha hub and also delivers freight to more than 150 key business and leisure destinations globally with more than 200 aircraft. The Qatar Airways Cargo fleet includes eight Airbus A330 freighters, 12 Boeing 777 freighters and one Boeing 747-8 freighter.

SOURCES: Quatar Airways / Cathay Pacific

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