Qatar Airways procures 9.6% stake in Cathay Pacific Airways

Date: 2017-11-06   Author: Saipriya Iyer  Category: #market

Qatar Airways procures 9.6% stake in Cathay Pacific Airways

The renowned Middle East airline, Qatar Airways, has recently announced its plans to buy a 9.6% stake in Cathay Pacific. Reportedly, the Doha based airline will complete the deal by buying Cathay’s stake from Hong Kong based Kingboard Chemical Holdings Ltd. and related companies for an amount of USD 903 million. Experts cite that the move will significantly aid Qatar Airways to establish a strong foothold in World’s second largest aviation market.

The procurement is claimed to be the first ever investment by a Middle Eastern airline in East Asian carriers. As per reliable sources, the deal would not only position Qatar Airways to be the third largest stakeholder in Cathay, but at the same time would provide it a direct access to China, which in all likelihood, would peg the title of the world’s largest aviation market within a decade.

For the record, the deal comes just a few months after Qatar Airways’ much-hyped investment in American Airlines Group went in vain. Reportedly, those investment plans were critically analyzed, amidst a backdrop when Qatar was apparently dead-locked in the region’s diplomatic crisis and legal airspace disputes with three other Gulf states.

Cathay Pacific Airways, the Hongkong based airline, reportedly, has been trying to regain its lost position in the aviation business space over the past two decades, after facing a hard blow from two of its major rivals, Etihad Airways and Emirates Airline. As of Monday, the company faced the highest intraday drop over a span of five months, reporting a depreciation of 4.9% in its share price.

Speaking of the latest venture, both Cathay and Qatar Airways are allegedly the members of OneWorld alliance and are highly optimistic toward building a constructive partnership in the future, cite experts.  Reportedly, the transaction is deemed to be completed later on Monday, with Qatar Airways buying 378.2 million shares in a cash deal of HK$13.65 per share.



About Author


Saipriya Iyer linkdin-boxtwitter

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

Post Recommendents

Industrial Condensing Units Market Size, Worldwide Opportunities, Driving Forces, Future Potential 2026

Author: Partha Ray

Post thorough primary & secondary research on Industrial Condensing Units industry segments, competitive landscape, historical data, and Covid-19 impact, industry experts provide accurate forecasts for 20XX-20XX.

.

...


Future Growth Of Concrete Floor Sanders Market by New Business Developments, Innovations, And Top Companies – Forecast To 2026

Author: Sachin Pashte

Market Study Report LLC Adds New Global Concrete Floor Sanders Market Report to its research database. The report presents a deep study of the market growth factors and drivers, application potential and much more.

Objective


Wood Saws Market Trends, Growth, Scope, Size, Overall Analysis and Forecast by 2026

Author: Sachin Pashte

Global Wood Saws Market Report available at MarketStudyReport.com gives an industry overview of the Wood Saws , which covers product scope, market revenue, opportunities, growth rate, sales volumes and figures. The report also explores the worldwi...