$832 million deal to be finalised later today.
Qatar Airways has just announced an agreement to purchase 378,188,000 shares in Cathay Pacific, comprising about 9.61% of the Hong Kong carrier’s share capital.
The deal is expected to be finalised later today in Hong Kong, with QR ceo Akbar Al Baker saying the investment further supports the airline’s investment strategy which has seen it take a 20% stake in International Airlines Group, parent company of British Airways and Iberia along with 10% of LATAM Airlines Group and 49% of Italian carrier Meridiana.
Qatar Airways, Cathay Pacific, British Airways and Iberia are all members of the oneworld alliance.
More details in today’s issue of Travel Daily.