Cathay Pacific to buy back Qatar Airways’ 9.57% stake

Cathay Pacific Airways has announced plans to acquire the 9.57% stake held by Qatar Airways for just under HK$6.97 billion (US$896 million), pending approval from independent shareholders at a meeting scheduled for November 5 in Hong Kong.

The proposed transaction follows a period of strong profitability for Cathay Pacific. The airline seeks to consolidate ownership and reinforce its position as a key operator in the Hong Kong aviation market.

Qatar Airways originally purchased the stake in Cathay Pacific in 2017 for approximately HK$5.1 billion. The current sale is part of a broader portfolio optimization strategy by the Gulf carrier.

“The buyback demonstrates our strong confidence in the future of the Cathay Group and emphasizes our commitment to the development of Hong Kong’s international aviation hub,” said Patrick Healy, chairman of Cathay Pacific.

Cathay Pacific remains majority-owned by Swire Pacific, which holds an approximate 45% stake, and Air China, which owns around 30%. The deal will not alter the control held by these principal shareholders.

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