Cathay's possible buy back of all of Qatar Airways' shareholding in Cathay

The share buy-back remains subject to approval by Cathay’s independent shareholders

Cathay Pacific Airways Limited (“Cathay”) and Qatar Airways Q.C.S.C (“Qatar Airways”) today announced that Qatar Airways has entered into an undertaking in favour of Cathay to execute a buy-back agreement pursuant to which Cathay will buy back all of Qatar Airways’ shareholding in Cathay. Qatar Airways’ shareholding in Cathay represents approximately 9.57% of the total issued shares of Cathay. The total consideration for the buy-back is HK$6,969,273,804.

Execution of the buy-back agreement by Cathay is subject to certain conditions, including Cathay obtaining approval from its independent shareholders at an Extraordinary General Meeting (EGM).

Cathay Group Chair Patrick Healy said: “The buy-back reflects our strong confidence in the future of the Cathay Group and underscores our commitment to the development of the Hong Kong international aviation hub. Together with our investment of well over HK$100 billion into our fleet, cabin and lounge products, and digital leadership, we are firmly focused on sustainably growing our business to strengthen Hong Kong’s status as a world-class aviation hub and contribute to the prosperity of the wider Greater Bay Area. I would like to extend my gratitude to Qatar Airways for their unwavering support over the years, and I look forward to continuing our close partnership through the oneworld Alliance relationship. I would also like to thank our shareholders, Swire Pacific and Air China, for their continued trust and support.”

Qatar Airways Group Chief Executive Officer Engr. Badr Mohammed Al-Meer said: “This agreement reflects Qatar Airways Group’s disciplined approach to portfolio management and our commitment to delivering sustainable value for our shareholders. Following a period of record profitability and strong performance, this decision is part of a proactive strategy to optimise our investments and position the group for long-term growth. While we adjust our shareholding, we look forward to continuing our collaboration with Cathay through the oneworld Alliance to continue delivering benefits that enhance connectivity and choice for our passengers. Hong Kong remains an important market to Qatar Airways, and we remain fully committed to serving it through our flights and codeshare agreements, offering travellers a seamless and world-class experience that reflects the highest standards of quality, service and innovation.”

For more information, visit Cathay’s Investor Relations page.

About Cathay
Cathay is a leading premium travel lifestyle brand based in Hong Kong, offering products and services across four lines of business – Cathay Pacific, Cathay Cargo, HK Express, and Lifestyle. Flights are provided by Cathay Pacific, the home airline of Hong Kong and a founding member of the oneworld global alliance. The Cathay Group also includes cargo division Cathay Cargo, low-cost carrier HK Express and various subsidiaries. The Cathay Group is part of the Swire Group and is listed on the Hong Kong Stock Exchange (HKSE). For more information, please visit www.cathay.com.

About Qatar Airways
A multiple award-winning airline, Qatar Airways won the ‘World’s Best Airline’ title for an unprecedented ninth time at the 2025 World Airline Awards, managed by the international air transport rating organisation, Skytrax. Qatar Airways was previously named the World’s Best Airline in 2011, 2012, 2015, 2017, 2019, 2021, 2022, and 2024.

The airline continues to be synonymous with excellence, and has yet again received recognition for ‘World's Best Business Class’, and ‘World's Best Business Class Airline Lounge’. As the leading connector in the region, Qatar Airways has also been lauded with the ‘Best Airline in the Middle East’ title for the 13th time.

Qatar Airways currently flies to over 170 destinations worldwide, connecting through its Doha hub, Hamad International Airport, the ‘Best Airport in the Middle East’ for 11 consecutive years, as well as ‘World’s Best Airport Shopping’ for the third year in a row, as voted by Skytrax. Hamad International Airport has previously been named the ‘World’s Best Airport’ by Skytrax in 2021, 2022, and 2024. For more information, please visit www.qatarairways.com.