The Qatari carrier announced a $661mn deal on Monday to buy a 9.61% stake in Hong Kong's Cathay Pacific Airways to broaden its reach.
Qatar Airways has broadened its global reach by purchasing a 9.61% stake in Cathay Pacific, the national carrier’s first major stake in an Asian airline.
Hong Kong's Kingboard Chemical Holdings said it had sold the stake to Qatar Airways for HK$5.16bn ($661mn), making the Middle Eastern carrier the third-largest shareholder in Cathay.
Airbus said on Wednesday it has finalised a more than $4bn order with Cathay Pacific for 32 of its A321neo aircraft to revamp the Hong Kong-based carrier's regional affiliate.
Hong Kong's flagship airline Cathay Pacific said on Monday it would cut 600 staff including a quarter of its management, as part of its biggest shakeup in two decades to repair its bottom line.
Hong Kong flag carrier Cathay Pacific said on Wednesday it will ban carrying shark fins and products on all its flights, a victory for conservationists concerned for endangered species of the predator.