💸 Cleared for take off: Cathay Pacific buys back Qatar Airways' 9.57% stake for HKD 6.97bn (≈ $896M) at HK$10.84 per share, 4% below the last trading price. The deal still requires approval from 75% of shareholders.
🛫 Boarding complete: Qatar's entry into Cathay was the first investment by a Gulf carrier in East Asia. The exit comes after eight years, officially due to "portfolio optimization."
✈️ Confidence comeback: Cathay is investing over HKD 100bn in fleet, cabins, lounges, and digital services – Cathay CEO Patrick Healy calls the buyback a sign of "strong confidence" in Hong Kong's future as an aviation hub.
💺 Seatbelt sign on: Even without shares, the partnership remains intact through the Oneworld alliance. Doha emphasizes continuing "strategic collaboration" and joint "growth via codeshare."
🌍 Route change: Cathay strengthens control as Qatar reshapes its global airline portfolio — once focused on major players like British Airways and Cathay, it now turns to smaller, regional stakes in Australia and Africa.
Big Picture
Cathay aims to reclaim its position as Asia's leading airline after crisis years. The buyback signals confidence and a desire for more control and stability in its ownership structure.
Qatar's goal is a more agile, profitable network that maintains global presence but is less politically vulnerable.
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