2017’s most active airline (new Business Class beds, pre-select meal programs, Canberra flights, push through neighbouring blockades, etc.) has just made a play for Cathay Pacific’s profits by purchasing a chunk of the business.
Qatar Airways confirmed this week that it had entered an agreement to purchase 378,188,000 shares or around 9.61 percent of the Hong Kong-based airline.
The purchase will set the carrier back around $865 million and is expected to be completed this week.
According to Qatar Airways’ Group Chief Executive, His Excellency Mr Akbar Al Baker, Cathay Pacific is the perfect airline to invest in as it’s “one of the strongest airlines in the world”.
“Cathay Pacific is a fellow oneworld member and is one of the strongest airlines in the world,” he said.
“[Cathay Pacific is] respected throughout the industry and with massive potential for the future.”
Akbar Al Baker, Qatar Airways Group Chief Executive
“Qatar Airways is very pleased to complete its financial investment in Cathay Pacific.”
The Doha-based airline’s investment comes after the carrier acquired 20 percent of the International Airlines Group, 10 percent in LATAM Airlines and 49 percent in Meridiana.
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