Qatar Airways Ends Eight-Year Partnership with Cathay Pacific in $896 Million Exit

Cathay Pacific has announced that it will repurchase all shares held by Doha-based Qatar Airways in a deal valued at HK$6.96 billion (approximately US$896 million), effectively ending their eight-year partnership.

Following the announcement, Cathay Pacific’s shares in Hong Kong surged by more than 4 percent, reaching HK$11.7 each on Thursday.

Cathay Group Chair Patrick Healy said in a statement on Wednesday, “The buyback reflects our strong confidence in the future of the Cathay Group and underscores our commitment to the continued development of Hong Kong as an international aviation hub.”

Qatar Airways currently holds around 9.6 percent of Cathay Pacific’s total issued shares. The buyback marks a significant strategic shift for both airlines, signalling a consolidation of focus and priorities in their respective markets.

Qatar Airways Group Chief Executive Officer Badr Mohammed Al-Meer commented, “This agreement reflects Qatar Airways Group’s disciplined approach to portfolio management and our ongoing commitment to delivering sustainable value for our shareholders.”

According to Cathay’s filing with the Hong Kong Stock Exchange, the public float of the company will decrease to approximately 20.5 percent once the buyback is completed.

The two airlines first established their equity relationship in 2017, when Qatar Airways acquired the stake from Kingboard Chemical Holdings. Their collaboration since then has included code-sharing and joint initiatives in premium travel services, which are now expected to continue through commercial partnerships rather than shared ownership.