13 NOVEMBER 2017

YOUR WORDS


Readers are invited to add their comments to any story. Click on the article to see and add.

BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.

Index

Email this Page
Bookmark

The Business Travel News
PO Box 758
Edgware HA8 4QF
United Kingdom
+44 (0)20 8952 8383
info@btnews.co.uk
© 2017 Business Travel News Ltd.

Article from BTNews 13 NOVEMBER 2017

Qatar takes 9pc of Cathay

Asia’s largest international airline, Cathay Pacific, acquired a new part-owner last week after Qatar Airways agreed to buy a 9.6% stake in the company to become the third biggest shareholder after Swire Pacific and Air China. Qatar bought 378.18m shares of Cathay Pacific Airways at HK$13.65 (£1.33) per share in a transaction valued at HK$5.16bn (£500m) from Hong Kong industrial company Kingboard Chemical, according to a stock exchange filing.

Kingboard founder Paul Cheung Kwok-wing bought his stake in Cathay Pacific earlier this year. The sale of the shares gives his company a profit of about HK$800m (£78m).

Swire Pacific remains the largest shareholder in Cathay, which like Qatar Airways is a member of the Oneworld alliance, with a 45% stake, with Air China controlling 29.99%. The remaining shares not owned by Qatar Airways are publicly traded.

Qatar’s move comes after its attempt earlier this year to buy shares in American Airlines was turned down by the US carrier. Group CEO Akbar Al Baker said his new partner was “one of the strongest airlines in the world, respected throughout the industry and with massive potential for the future.”

www.qatarairways.com

www.cathaypacific.com

Index/Home page
 

OUR READERS FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum


No one has commented yet, why don't you start the ball rolling?


Add your comment

First Name
Surname
Email Address
Company (Not obligatory)
Country/City
Comment
- You must be a registered subscriber using the email address entered to submit a comment, or you will be sent a confirmation email before your comment will appear.
- Your comment will be checked before appearing, which may take several working hours.
www.btnews.co.uk Subscribe Change details Contact Us Search