The state-backed Persian Gulf carrier’s latest investment in a global rival will see it acquire a 9.6% stake in Cathay Pacific Airways for $661 million.
Qatar Airways Co. is buying a stake in Cathay Pacific Airways Ltd. for $661 million, the latest in a string of investments in global rivals by the Middle East carrier.
In a surprise deal, state-owned Qatar Airways agreed to acquire the 9.6% stake in the dominant Hong Kong carrier from industrial company Kingboard Chemical Holdings Ltd.
