Last November, Cathay 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. 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. The proposed buy-back reflects Cathay’s strong confidence in the future of the Cathay group. Together with its investment of well over HK$100 billion into its fleet, cabin and lounge products, and digital leadership, Cathay is firmly focused on sustainably growing its business to strengthen Hong Kong’s status as a world-class international aviation hub and contribute to the prosperity of the wider Greater Bay Area.
