Qatar Airways has sold its entire 9.7% stake in Cathay Pacific Airways for around $897 million, marking a complete exit from the Hong Kong-based carrier after eight years of investment.
Cathay Pacific will repurchase the shares at HK$10.84 each, about 4% lower than its last closing price. Once the deal is completed, Swire Pacific’s ownership in Cathay will rise to 47.69% from 43.12%, while Air China’s stake will increase to 31.78% from 28.74%.
Qatar Airways had acquired the stake in 2017, becoming Cathay’s third-largest shareholder. The sale is part of Qatar’s strategy to rebalance its investment portfolio and strengthen its position for future expansion.
Cathay Pacific described the buy-back as a sign of confidence in its growth plans. The airline is investing nearly HK$100 billion over the next seven years in new aircraft, upgraded cabins, and enhanced lounge experiences.
After facing heavy losses during the pandemic, Cathay has shown steady recovery, with passenger numbers in September rising nearly 20% year-on-year.
Despite the divestment, both airlines will continue collaborating through the oneworld alliance, maintaining strong commercial ties even as ownership structures change.
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