Cathay Pacific is ending its eight-year partnership with Qatar Airways as the Doha-based airline prepares to sell its 9.57 percent stake for around 896 to 897 million dollars (HK$6.97 billion). The sale marks a major shift in both carriers’ global strategies.
Cathay Buys Back Qatar’s Stake
Cathay Pacific will repurchase the shares at HK$10.8374 each. The price represents a 4 percent discount from recent trading levels but a 35 percent premium on what Qatar Airways originally paid in 2017.
Qatar’s Strategic Exit
Qatar Airways bought the stake from Kingboard Chemical Holdings in November 2017, becoming Cathay Pacific’s third-largest shareholder after Swire Pacific and Air China. The deal was meant to expand Qatar’s reach across Asia through Cathay’s Hong Kong hub.
Refocusing Global Investments
Qatar Airways’ CEO Badr Mohammed Al-Meer said the sale aligns with the company’s long-term strategy to streamline investments for sustainable growth. The airline has been refining its global portfolio to focus on markets offering stronger long-term returns.
Cathay Sees Vote of Confidence
Cathay Pacific chairman Patrick Healy called the buyback a strong signal of confidence in the airline’s future. Both companies confirmed that, although the equity partnership ends, their collaboration within the oneworld Alliance will continue.
Awaiting Shareholder Approval
The transaction still needs approval from Cathay Pacific’s independent shareholders at an upcoming Extraordinary General Meeting. The airline plans to fund the buyback using internal cash and existing credit lines without seeking external financing.
End of a Rare Partnership
Qatar’s exit closes a significant chapter between two global carriers that once shared ambitious cross-regional goals. With the alliance formally ending, both airlines now move ahead with clearer, independent strategies focused on their own networks.
