Overview
- Qatar Airways agreed to sell all 643,076,181 Cathay shares at HK$10.8374 each, valuing the buyback at about HK$6.97 billion (US$896–897 million) at roughly a 4% discount to the prior close.
- Completion is conditional on approval by Cathay’s independent shareholders at an Extraordinary General Meeting and other customary conditions.
- Cathay said the transaction would cut its free float to about 20.5% and that a public‑float waiver has been granted by the Hong Kong Stock Exchange.
- Upon cancellation of the repurchased shares, Swire Pacific’s holding would rise to about 47.7% and Air China’s stake would increase, further concentrating ownership.
- Both airlines said commercial cooperation will continue through oneworld and codeshares, with Qatar describing the sale as portfolio optimization after strong results and Cathay calling the move a vote of confidence in its future.