Gulf carrier Qatar Airways has agreed to purchase a 9.61 per cent stake in Cathay Pacific, with completion of the acquisition expected to take place in Hong Kong later today (November 6).

When the deal is signed, Qatar will own nearly 400 million shares in Cathay Pacific. The airline already owns a 20 per cent stake in IAG, 10 per cent in LATAM Airlines Group and 49 per cent in Meridiana.

Qatar CEO Akbar Al Baker said: “Cathay Pacific is a fellow oneworld member and is one of the strongest airlines in the world, respected throughout the industry and with massive potential for the future.”

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