Qatar Airways acquires 9.61% of Cathay Pacific

Qatar Airways and Cathay Pacific entered (06-Nov-2017) an agreement, involving the purchase by Qatar Airways of 378,188,000 shares of Cathay Pacific Airways Limited, being approximately 9.61% of the total issued share capital. Completion of the transaction is expected to take place during 06-Nov-2017. Qatar Airways Group CEO 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". Cathay Pacific CEO 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". 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% shares of Cathay Pacific. [more - original PR - Qatar Airways] [more - original PR - Cathay Pacific]