Qatar Airways announces its acquisition of 9.61% of Cathay Pacific
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HONG KONG, 06 November 2017
Qatar Airways Q.C.S.C. ("Qatar Airways") is pleased to announce that it has entered into an agreement to purchase an amount of 378,188,000 shares of Cathay Pacific Airways Limited ("Cathay Pacific"), being approximately 9.61 per cent of the total issued share capital. Completion of the transaction is expected to take place later today in Hong Kong.
Qatar Airways Group Chief Executive, His Excellency Mr Akbar Al Baker said, "Qatar Airways is very pleased to complete its financial investment in Cathay Pacific." "Cathay Pacific is a fellow oneworld member and is one of the strongest airlines in the world, respected throughout the industry and with massive potential for the future."
This investment further supports Qatar Airways investment strategy which already includes 20% investment in International Airlines Group, 10% investment in LATAM Airlines Group and 49% investment in Meridiana."
About Qatar Airways
Qatar Airways, the national carrier of the State of Qatar, is celebrating 20 years of Going Places Together with travellers across its more than 150 business and leisure destinations. The world's fastest-growing airline will add a number of exciting new destinations to its growing network in 2017/18, including St. Petersburg, Russia; Chiang Mai, Thailand; Canberra, Australia and many more, flying passengers on board its modern fleet of more than 200 aircraft.
A multiple award-winning airline, Qatar Airways was recently named 'Airline of the Year' by the 2017 World Airline Awards, managed by international air transport rating organisation Skytrax. It was also named 'World's Best Business Class,' 'Best Airline in the Middle East,' and 'World's Best First Class Airline Lounge.'
Qatar Airways is a member of the oneworld global alliance. The award-winning alliance was named the World's Best Airline Alliance 2015 by Skytrax for the third year running. Qatar Airways was the first Gulf carrier to join global airline alliance, oneworld, enabling its passengers to benefit from more than 1,000 airports in more than 150 countries, with 14,250 daily departures.
Oryx One, Qatar Airways' in-flight entertainment system offers passengers up to 4,000 entertainment options from the latest blockbuster movies, TV box sets, music, games and much more. Passengers flying on Qatar Airways flights served by its B787, A350, A380, A319 and select A320 and A330 aircraft can also stay in touch with their friends and family around the world by using the award-winning airline's on-board Wi-Fi and GSM service.
Qatar Airways proudly supports a range of exciting international and local initiatives dedicated to enriching the global community that it serves. Qatar Airways, the official FIFA partner, is the official sponsor of many top-level sporting events, including the FIFA 2018 and 2022 World Cups, reflecting the values of sports as a means of bringing people together, something at the core of the airline's own brand message - Going Places Together.
Qatar Airways Cargo, the world's third largest international cargo carrier, serves more than 60 exclusive freighter destinations worldwide via its world-class Doha hub and also delivers freight to more than 150 key business and leisure destinations globally with more than 200 aircraft. The Qatar Airways Cargo fleet includes eight Airbus A330 freighters, 12 Boeing 777 freighters and one Boeing 747-8 freighter.
For further information, please contact:
Qatar Airways Group, Corporate Communications Department
Tel: +974 4022 2200