Qatar Airways to sell 9.57% stake in Cathy Pacific Airways for $896 million after 8 years

Cathay Pacific Airways is planning to buy back shares held by Qatar Airways after the latter decided to exit its eight-year investment in the Hong Kong-based carrier.

According to a stock exchange filing, Cathay Pacific will buy back Qatar’s 9.57 per cent stake for HK$6.97 billion ($896 million). The transaction will require approval from at least 75 per cent of Cathay’s shareholders.