Qatar Airways Announces Acquisition of 9.61% Of Cathay Pacific

Doha, November 06 (QNA) - Qatar Airways announced Monday that it has entered into an agreement to purchase an amount of 378,188,000 shares of Cathay Pacific Airways Limited (Cathay Pacific), being approximately 9.61% of the total issued share capital. Completion of the transaction is expected to take place later today in Hong Kong. Qatar Airways said in a statement that this investment in Cathay Pacific further supports Qatar Airways investment strategy which already includes 20% investment in International Airlines Group (IAG), 10% investment in LATAM Airlines Group and 49% investment in Meridiana. Group Chief Executive Akbar Al Baker praised this financial investment in Cathay Pacific which is a fellow oneworld member and is one of the strongest airlines in the world, respected throughout the industry and with massive potential for the future. Qatar Airways, the national carrier of the State of Qatar, is celebrating 20 years of Going Places Together with travellers across its more than 150 business and leisure destinations. The world's fastest-growing airline will add a number of exciting new destinations to its growing network in 2017/18, including St. Petersburg, Russia; Chiang Mai, Thailand; Canberra, Australia and many more, flying passengers on board its modern fleet of more than 200 aircraft. A multiple award-winning airline, Qatar Airways was recently named Airline of the Year by the 2017 World Airline Awards, managed by international air transport rating organisation Skytrax. It was also named Worlds Best Business Class, Best Airline in the Middle East, and Worlds Best First Class Airline Lounge. based in Hong Kong Cathay Pacific Airways is a Hong Kong-based airline offering scheduled passenger and cargo services to more than 180 destinations in Asia, North America, Australia, Europe and Africa, using a fleet of 140 wide-body aircraft. The airline offers exceptional service and world-beating products on the ground and in the air - including its multiple award-winning long-haul Business Class. (QNA)