Qatar Airways to Exit Cathay Pacific Stake After Eight Years
Qatar Airways is set to divest its entire shareholding in Cathay Pacific, bringing an end to an eight-year investment in Hong Kong’s flagship airline. The Qatari carrier will sell its 9.6% stake back to Cathay for approximately $896 million, according to a statement filed on Wednesday. The transaction, priced at $1.40 per share, is still subject to approval from Cathay’s independent shareholders.
Qatar Airways first acquired the stake in 2017 for about $662 million, becoming Cathay’s third-largest shareholder at the time and marking the first major investment by a Middle Eastern airline in an East Asian carrier.
Qatar Airways Group Chief Executive Badr Mohammed Al-Meer described the sale as part of a broader strategy to refine the company’s global investment portfolio. He said the airline is focusing on “long-term growth” following a period of strong financial performance.
Once the buyback is finalised, Cathay’s shareholding structure will shift, with major shareholders Swire Pacific and Air China increasing their stakes to 47.7% and 37.8%, respectively.
Cathay Pacific Chairman Patrick Healy said the decision reflects confidence in the airline’s recovery and growth trajectory. The carrier previously announced plans for a $12.9 billion investment spread over seven years to expand and upgrade its fleet and lounges.
Despite the change in ownership, Cathay Pacific and Qatar Airways confirmed that their partnership will continue through existing codeshare arrangements and ongoing membership in the Oneworld airline alliance.
Qatar Airways continues to maintain stakes in several other carriers globally, including a 5% share in China Southern Airlines and a 25% ownership position in International Airlines Group, the parent company of British Airways and Iberia. The airline also holds a 25% stake in Virgin Australia and is nearing completion of a 49% investment in RwandAir.
