Cathay Pacific Airways moved quickly after midnight on 6 November to announce it will repurchase the entire 9.57 % shareholding held by Qatar Airways for HK$6.96 billion (US$896 million). The 643 million shares will be bought at HK$10.8374 each, a modest 3.9 % discount to the previous close. Shareholders will vote on the deal in December.
For Hong Kong’s aviation hub, the transaction is strategically significant. By eliminating a minority shareholder whose priorities now lie with a deepening codeshare alliance with China Southern Airlines, Cathay tightens control under its two long-time anchors—Swire Pacific (rising to 47.7 %) and Air China (to 31.8 %). Management says the buy-back will be funded from internal cash and existing credit lines, signalling confidence in Cathay’s post-pandemic balance sheet after two straight profitable years.
![Cathay Pacific to buy back Qatar Airways’ 9.57 % stake for HK$6.96 billion]()
Corporate travel planners should note that Qatar’s exit is unlikely to affect the Oneworld carrier’s network rights or existing cooperation on freight, but it underscores Cathay’s renewed focus on strengthening Hong Kong’s connectivity rather than pursuing capital partnerships abroad. Analysts expect management to plough savings from the cancellation of dividend outflows into fleet renewal—particularly the next batch of Airbus A350s and Boeing 777-9s—and additional lounge upgrades at Hong Kong International Airport.
From a global-mobility perspective, the buy-back supports smoother decision-making on schedules, crew bases and joint-venture talks, which should translate into more predictable capacity for corporate accounts in 2026. Companies with large Middle East travel volumes may wish to review routings, as future cooperation between Cathay and Qatar could shift from equity-based to purely commercial code-sharing.
For Hong Kong’s aviation hub, the transaction is strategically significant. By eliminating a minority shareholder whose priorities now lie with a deepening codeshare alliance with China Southern Airlines, Cathay tightens control under its two long-time anchors—Swire Pacific (rising to 47.7 %) and Air China (to 31.8 %). Management says the buy-back will be funded from internal cash and existing credit lines, signalling confidence in Cathay’s post-pandemic balance sheet after two straight profitable years.
Corporate travel planners should note that Qatar’s exit is unlikely to affect the Oneworld carrier’s network rights or existing cooperation on freight, but it underscores Cathay’s renewed focus on strengthening Hong Kong’s connectivity rather than pursuing capital partnerships abroad. Analysts expect management to plough savings from the cancellation of dividend outflows into fleet renewal—particularly the next batch of Airbus A350s and Boeing 777-9s—and additional lounge upgrades at Hong Kong International Airport.
From a global-mobility perspective, the buy-back supports smoother decision-making on schedules, crew bases and joint-venture talks, which should translate into more predictable capacity for corporate accounts in 2026. Companies with large Middle East travel volumes may wish to review routings, as future cooperation between Cathay and Qatar could shift from equity-based to purely commercial code-sharing.
