US EditionQatar Airways to sell its holdings in Hong Kong’s Cathay Pacific for $896 million
Cathay Pacific to repurchase Qatar Airways' 9.57% stake for HK$6.96 billion, increasing Swire Pacific's holding to 47.69%, reflecting confidence in Hong Kong aviation.
- On Wednesday, Cathay Pacific said it will buy back Qatar Airways' entire 9.7% stake for HK$6.96 billion after the Doha-based carrier approached it to sell all 643.07 million shares, subject to shareholder approval.
- The CEO Badr Mohammed Al-Meer said Qatar Airways’s exit reflects a disciplined portfolio strategy following strong results, including investments in global airlines like IAG and LATAM.
- Cathay will repurchase the shares at HK$10.8374 per share, roughly a 4% discount to Wednesday's close, and plans to fund the buyback with internal resources and existing credit lines.
- If approved, the buyback will boost controlling stakes as Swire Pacific and Air China rise to 47.7% and 37.8%, while Cathay plans an HK$100 billion investment over seven years.
- Qatar has a history of investing in global carriers; earlier this year it bought a 25% stake in Virgin Australia and is finalising a 49% investment in RwandAir, marking its complete exit from Cathay after eight years.
47 Articles
47 Articles
Qatar Airways to sell all of its Cathay Pacific stake
Cathay Pacific has said it plans to buy back all of its shares owned by Doha-headquartered Qatar Airways, worth HK$6.96 billion (US$896 million), ending the two carriers' eight-year shareholding relationship. The airline's stake in Hong Kong bounced more than 4.0 percent at HK$11.7 each on Thursday, a day after the exit was announced. "The buyback reflects our strong confidence in the future of the Cathay Group and underscores our commitment to …
Qatar Airways to sell all of its HK$6.96b Cathay Pacific stake
Cathay Pacific has said it plans to buy back all of its shares owned by Doha-headquartered Qatar Airways worth HK$6.96 billion (US$896 million), ending the two carriers’ eight-year shareholding relationship. Cathay Pacific airplanes. Photo: GovHK. The airline’s stake in Hong Kong bounced more than 4.0 percent at HK$11.7 each on Thursday, a day after the exit was announced. “The buyback reflects our strong confidence in the future of the Cathay G…
Qatar Airways exits Cathay Pacific with $897 million stake sale
State-owned Qatar Airways has decided to sell its entire stake in Cathay Pacific Airways (0293.HK) for about $897 million (HK$6.97 billion), marking its complete exit from Hong Kong's flagship airline after eight years. Cathay said late on Wednesday that the Doha-based carrier had approached it about selling its entire 9.7% stake, and it would repurchase the shareholding through a buyback at HK$10.8374 per share, roughly a 4% discount to its las…
Qatar Airways sells entire Cathay Pacific stake for $897m
State-owned Qatar Airways has decided to sell its entire stake in Cathay Pacific Airways for about $897 million (HK$6.97 billion), marking its complete exit from Hong Kong’s flagship airline after eight years. Cathay said late on Wednesday that the Doha-based carrier had approached it about selling its entire 9.7 per cent stake, and it would repurchase the shareholding through a buyback at HK$10.8374 per share, roughly a 4pc discount to its last…
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