Nov 6, 2017

Qatar Airways buys near 10% Cathay Pacific stake

Qatar Airways will buy a near 10% stake of Cathay Pacific for HK$5.6bn, giving the Middle Eastern airline more access to China's lucrative aviation market. Cathay Pacific shares lost ground in Hong Kong on Monday following the deal. As a result of the deal, Qatar Airways has become Cathay Pacific's third largest shareholder. Qatar Airways chief executive Akbar Al Baker said Cathay Pacific is "Respected throughout the industry with massive potential for the future". 20% stake in Anglo-Spanish multinational airline IAG 10% stake in South America's LATAM Airlines Group.

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