qatar buys 96 of cathay pacific
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

To overcome its crisis

Qatar buys 9.6% of Cathay Pacific

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Qatar buys 9.6% of Cathay Pacific

Qatar Airways
Doha - Al Maghrib Today

Qatar Airways has bought a stake in Cathay Pacific, it announced Monday, giving the Doha-based airline a toehold in the potentially lucrative Asian aviation market. The state-owned Gulf carrier said it had acquired a 9.6 percent stake in Cathay, which would make it the third largest shareholder in the Hong Kong airline.
Bloomberg News said the deal was worth $662 million (570 million euros). Qatar Airways group chief executive Akbar Al-Baker said in a company statement that Cathay was “one of the strongest airlines in the world,” adding it had “massive potential.”
The acquisition comes during the ongoing political crisis in the Gulf, the worst to hit the region in years.
Since June, Qatar has been isolated by neighboring countries including Saudi Arabia and the United Arab Emirates.
As part of that dispute, Qatar Airways has been stopped from flying to Saudi Arabia and the UAE, previously popular destinations for the carrier. The deal with Cathay Pacific also comes after Qatar Airways halted a bid in August to buy a 10 percent stake in American Airlines.
Corrine Png of Singapore-based research firm Crucial Perspective described the acquisition as a “trophy win” for Qatar Airways but not without potential obstacles. Qatar and Cathay’s two other major shareholders, Swire Pacific and Air China — which own 45 and 30 percent respectively — have “different corporate cultures” with “potentially conflicting interests and strategic focus,” said Png.
“Moreover, Air China and Qatar Airways have non-economic political interests given that they are state-owned enterprises,” Png told AFP. Cathay shares dropped around 4.4 percent in early trade but pared losses mid-morning and in the afternoon.
The troubled Hong Kong carrier in August reported a massive net loss of HK$2.05 billion ($262 million) for the first half of 2017 as it struggled with intense competition from rivals.
 

 

almaghribtoday
almaghribtoday

GMT 10:12 2018 Friday ,19 January

Emirates announces $16 bn deal

GMT 12:39 2018 Thursday ,18 January

Philippine volcano 'fireworks' draw

GMT 12:35 2018 Wednesday ,17 January

Tripoli flights still suspended after fighting

GMT 12:13 2018 Tuesday ,16 January

Spain expected to replace US

GMT 11:42 2018 Monday ,15 January

Turkish passenger plane skids off

GMT 11:40 2018 Sunday ,14 January

Air France-KLM denies bidding

GMT 09:28 2018 Friday ,12 January

India allows 49% foreign investment

GMT 12:47 2018 Thursday ,11 January

Heavy snowfall strands 13,000 tourists
Almaghrib Today, almaghrib today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

qatar buys 96 of cathay pacific qatar buys 96 of cathay pacific

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

qatar buys 96 of cathay pacific qatar buys 96 of cathay pacific

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 09:45 2018 Friday ,19 January

Syria threatens to 'destroy' Turkish warplanes

GMT 14:01 2012 Thursday ,05 January

Philly Kids enticed out of classrooms by electric car

GMT 10:10 2014 Tuesday ,22 April

PM: Almost one million Syrian refugees in Turkey

GMT 16:46 2016 Friday ,11 November

Hollywood in shock over Trump victory

GMT 11:47 2017 Monday ,18 December

New Austrian rightwing government sworn in

GMT 08:40 2017 Monday ,18 December

War against IS in Syria will be won by February

GMT 14:46 2017 Monday ,02 January

Chinese firms penalised for copying ‘Cars’

GMT 13:56 2015 Thursday ,17 December

Heavy rains continue to pour over Alexandria

GMT 07:23 2017 Friday ,14 April

Bahrain weather forecast

GMT 14:35 2017 Thursday ,23 February

HRH Princess Sabeeka inaugurates BIGS 2017

GMT 10:09 2017 Thursday ,30 March

Oscars keep accountants behind best picture fiasco

GMT 17:51 2012 Wednesday ,13 June

It\'s getting hotter and hotter

GMT 22:14 2011 Thursday ,22 September

Russia, Iceland consider joint geothermal energy projects

GMT 11:51 2013 Monday ,08 April

Exhumation of Chilean poet Pablo Neruda begins

GMT 21:17 2014 Monday ,27 October

3 things you can literally learn in your sleep
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday