Hong Kong airline Cathay Pacific plans to repurchase the 9.6% stake it sold to Qatar Airways in 2017, following shareholder approval.
The proposed purchase price is $896.5 million. Qatar purchased the stake for $662 million.
“This share buyback reflects our strong confidence in the future of Cathay Pacific Group and underlines our commitment to developing Hong Kong’s international aviation hub,” said Cathay Pacific Group Chairman Patrick Healy.
Cathay Pacific has suffered prolonged losses during the pandemic, a situation exacerbated by mass protests and political conflict before COVID-19 and Hong Kong, which was one of the last global destinations to end pandemic travel restrictions in April 2023.
The stock buyback plan follows a strong recovery following the pandemic. In the first half of 2025, Cathay Pacific Group, which includes Cathay Pacific and low-cost carrier HK Express, reported a profit of $476 million, marking its third consecutive first-half surplus.
Cathay Pacific flights also recovered. Cirium data shows that in the 12 months ended in October, airlines flew 12.4% more seats than in the 12 months ended in October 2019.
Qatar Airways has investments in several airlines, including Virgin Australia, Latam, JSX, South African Airlink and International Airlines Group (parent company of British Airways, Iberia, Vueling, Level and Aer Lingus).
Qatar CEO Badr Mohammed Al Meer said the timing was right to sell Cathay Pacific shares.
“This decision, following a period of record profitability and strong performance, is part of our proactive strategy to optimize investments and position the group for long-term growth,” he said.
Cathay Pacific and Qatar Airways will continue to work together as partners in the oneworld alliance.
