Qatar Airways has purchased 9.61% of oneworld partner Cathay Pacific for $662 million, which makes Qatar the third-largest shareholder of Hong Kong-based Cathay Pacific behind Swire Group (45%) and Air China (30%).
Chief Executive Officer Akbar Al Baker said the investment “further supports Qatar Airways investment strategy.”
You can view the full press release from Qatar Airways here.
At the current time, this event will not have any impact on frequent flyer members with either program or flight operations. As time goes on, it is possible that Qatar and Cathay Pacific could seek to offer joint ventures on routes and/or coordination between their loyalty programs.
Qatar Airways also holds stakes in LATAM, Meridiana, British Airways, Vueling, and Iberia.
Earlier this year, Qatar tried to purchase a stake in American Airlines, but that deal ultimately didn’t work out.