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 that 3's major shareholders Cathay Pacific - Swire, Air China and Qatar Airways - have different interests and situations may arise.
The Executive Director of Qatar Airways Group, His Excellency Akbar Al Baker, said: “Qatar Airways is very pleased to complete its investment in Cathay Pacific. He is a member of oneworld and one of the most powerful airlines in the world, respected throughout the industry and with great 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.