Qatar Airways bought 9,61% from Cathay Pacific
Today, 6 November 2017, the transaction was completed following which Qatar Airways bought 9,61% from Cathay Pacific. This means the acquisition of 378.188.000 of shares of Cathay Pacific Airways Limited (Cathay Pacific).
Commercial aviation is always changing. Some companies go bankrupt, others develop. Today we announce that the airline Qatar Airways bought 9,61% from Cathay Pacific.
9,61% of Cathay Pacific
According to a press release, Qatar Airways has acquired 378.188.000 shares of Cathay Pacific Airways Limited (Cathay Pacific). The amount owed amounts to 661 million US dollars (5.16 billion HK).
This transaction makes the Middle East airline the 3 largest shareholder in Cathay. Swire Pacific owns 45%, and Air China has the 30% package from Cathay Airways.
As a result of this transaction, Cathay Pacific shares fell 4,7%. Investors are worried about the direction Qatar Airways has in its register. As you can see, there are situations when such transactions are not seen with the good eyes of other investors.
A transport analyst says Cathay Pacific's three main shareholders - Swire, Air China and Qatar Airways - have different interests and may be in conflict.
Qatar Airways Group Executive Director, His Excellency Akbar Al Baker, said: “Qatar Airways is delighted to complete its investment in Cathay Pacific. It is an oneworld member and one of the most powerful airlines in the world, respected throughout the industry and with massive potential for the future. ”
Over time, Qatar Airways has also acquired 20% in International Airlines Group (IAG), 10% in LATAM Airlines group and 49% in Meridiana.