Reported about 20 hours ago
Qatar Airways is selling its 9.6% stake in Cathay Pacific Airways for $896 million, marking the end of its eight-year investment in the Hong Kong carrier. The buyback, priced at $1.4 per share, will bolster the holdings of Cathay's largest shareholders, Swire Pacific and Air China. Qatar Airways CEO Badr Mohammed Al-Meer cited a strategy to optimize investments for long-term growth. Both airlines will maintain collaborations through existing agreements.
Source: YAHOO