Agreement. Photo: Shutterstock Strategic ownership shift. Hong Kong's flag carrier, Cathay Pacific, has announced Qatar Airways' decision to sell its entire stake in the company, approximately 9.57% of the issued shares, for a total transaction value of roughly $892.1 million. The completion of this deal is contingent upon the approval of Cathay's independent shareholders at a special general meeting (SGM) and the satisfaction of additional regulatory and internal conditions.
Cathay Pacific. Photo: ShutterstockCathay Group Chairman Patrick Healy stated that the buyback "reflects our strong belief in the future of the Cathay Group" and underscores the company's commitment to developing Hong Kong's position as an international aviation hub. Healy added that the move accompanies the group's extensive investments in innovation and infrastructure, amounting to over $12.8 billion in fleet modernization, cabin products, business lounges, and digital enhancements.
Photo: ShutterstockOn the other hand, Qatar Airways Group CEO Engr. Badr Mohammed Al-Meer stated that the decision reflects a focused portfolio management strategy and seizing a period of profitability to enhance investor returns. He emphasized that, despite selling the stake, Qatar Airways views Hong Kong as an important market and that operational and commercial cooperation with Cathay, based on the oneworld alliance and codeshare agreements, will continue.
The move allows Cathay to reclaim valuable stock and allocate resources for growth while also representing a portfolio adjustment for Qatar as part of its asset strategy. The previous collaboration between the two companies, along with their strengths in ownership structures and operational links, encourages both to maintain commercial ties even after the settlement.
Operationally, Cathay's management stated that the move is intended not to weaken but to enhance the group's ability to invest in sustainable growth.
If approved by shareholders and through regulatory channels, the deal could lead to changes in Cathay's ownership structure, but the parties emphasize that commercial ties, codeshare agreements, and collaborations within oneworld will continue.
The announcement also clarifies Cathay's readiness to continue supporting long-term strategic planning for Hong Kong as one of the world's key aviation centers.