Qatar Airways takes a 9.61% stake in Cathay Pacific

Qatar Airways has acquired a 9.61% stake in Hong Kong-based Cathay Pacific Airways.

Both Cathay Pacific and Qatar Airways collaborate together as members of the oneworld passenger alliance.

Cathay's current shareholders, Air China Ltd and Swire Pacific Ltd, will together continue to hold 74.99% shares of the airline.

Commenting on the share swoop, Cathay Pacific chief executive Rupert Hogg said: "Qatar Airways is one of the world's premier airlines. We already work together closely as fellow members of the oneworld alliance and we look forward to a continued constructive relationship."

Qatar Airways Group chief executive Akbar Al Baker said: “Qatar Airways is very pleased to complete its financial investment in Cathay Pacific.” “Cathay Pacific 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.”

This investment, the first by a Middle East carrier in a Asian airline, further supports Qatar Airways investment strategy which includes a 20% investment in British Airways and Iberia parent IAG, a 10% investment in LATAM Airlines Group and a 49% investment in Meridiana.