Qatar Airways buys 9.6% stake in Cathay Pacific for $662 million
Tuesday, 07 November 2017 - 0:11
Qatar Airways today (06) announced that it has bought a stake in Cathay Pacific, giving the Doha-based airline a toehold in the potentially lucrative Asian aviation market.
The state-owned Gulf carrier said it had acquired a 9.6 percent stake in Cathay, which would make it the third largest shareholder in the Hong Kong airline.
Qatar Airways group chief executive Akbar Al-Baker said in a company statement that Cathay was “one of the strongest airlines in the world”, adding it had “massive potential”.
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