Qatar buys a stake in Cathay Pacific

The Hong Kong stock exchange revealed that Qatar Airways had bought a 9.61% stake from King Holdings in Cathay Pacific, a move which actually saw the airlines stock price drop.

Air China owns 30% of the shares and Swire Pacific 45%, Qatar is now the third largest shareholder with 15% owned by smaller investors.

The concern is that Cathay is going through some serious issues at the moment having just made 600 redundancies, its competition is vicious and its trying to re-set its marketing and sales position. Qatar’s involvement is seen as complicating matters.