STATE-owned Qatar Airways has decided to sell its entire stake in Cathay Pacific Airways for about $897 million (HK$6.97 billion), marking its complete exit from Hong Kong's flagship airline after eight years.
Cathay said late on Wednesday that the Doha-based carrier had approached it about selling its entire 9.7% stake, and it would repurchase the shareholding through a buyback at HK$10.8374 per share, roughly a 4% discount to its last closing share price.
