Qatar Airlines has continued to invest in other airlines, this time buying a 9.6 percent stake in Cathay Pacific. Qatar also owns a 20 percent stake in International Airlines Group, which is the parent company of British Airways, as well as ten percent of the South American LATAM Airlines Group, and a 49 percent of the Italian airline Meridiana.
The move to buy a stake in Cathay Pacific is the first time that Qatar has invested in an Asian airline. Cathay’s shares are reportedly up 29 percent since the beginning of 2017, but they are currently experiencing a loss that has led them to do some “transformation.”
The Qatar Airways CEO Akbar Al Baker released a statement about the decision to invest in the airline now.
“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. Qatar Airways is very pleased to complete its financial investment in Cathay Pacific.”
Qatar also recently announced that they would be investing $808 million in American Airlines, but they changed their mind about that one.