Qatar Airways is looking to sell off its 9.57% stake in Hong Kong-based airline Cathay Pacific, Bloomberg reported last week. Through a share buy-back transaction, the Hong Kong carrier will be taking back ownership of roughly 643 mn shares at about HKD 10.8 per share — with the transaction valued at USD 896 mn, according to a stock exchange filing (pdf).

What now? Approval of the sell-off requires a 75% minimum vote from shareholders to advance the transaction.

Why the exit? While the reason for the exit was not disclosed, Qatar Airways appear to be pursuing an expansion strategy focused on smaller-sized airlines. Earlier this year, the Qatari flag carrier wrapped its acquisition of 25% of Virgin Australia (106 jets) and another 25% stake of South Africa’s Airlink (65+ jets). The airline is also reportedly in the mix to snag a stake in Air Mauritius (12 jets).

Cathay Pacific Airways operates a passenger fleet of 234 aircraft, including a cargo fleet of six 747‑400ERF jets and 14 of the 747‑8F model, according to its interim financial statements (pdf) for 6M 2025. Alongside its subsidiary HK Express, the pair jointly provide scheduled passenger service to over 100 destinations globally.

And it is growing: The company has an orderbook totaling at least 89 aircraft scheduled for delivery starting 2026. The carrier also ordered 14 more Boeing 777-9 jets last August, bringing its total order for this model to 35.

Background: Qatar Airways became Cathay's third-largest shareholder in 2017 after it acquired a stake from Kingboard Chemical Holdings and other firms for USD 662 mn, CNN reports. This marked the first investment by a Middle Eastern airline in an East Asian carrier.

IN OTHER M&A NEWS-

#1- Turkish Airlines' bid for Air Europa stake approved: Turkish flag carrier Turkish Airlines’ formal bid to buy a minority stake in Spanish carrier Air Europa — at a cost of USD 300 mn — has been accepted, according to a statement released on Thursday. The majority of the funds will take the form of a capital increase, with the stake size estimated between 25% and 27%. The regulatory approval process has begun and is anticipated to conclude within six to 12 months.

ICYMI: The Istanbul-based carrier filed the bid back in August, in hopes to leverage Air Europa’s strong passenger and cargo operations in the Iberian Peninsula and Latin America.

ALSO- Turkish Airlines sealed new orders with Boeing + GE Aerospace: The carrier has placed orders for 75 Boeing aircraft, comprising 50 firm and 25 option orders for the B787-9 and B787-10 models, according to a statement. Aircraft deliveries are scheduled between 2029 and 2034.

#2- Uber is in talks with Mubadala to take over Getir’s delivery business: Uber is holding preliminary talks with Mubadala Investment Company — the main backer of Istanbul-based delivery platform Getir — over a possible takeover of the Turkish firm, Bloomberg reported last week, citing sources familiar with the matter. An acquisition could be valued at up to USD 1 bn and would likely involve Getir’s delivery operations, while its financial services unit could also be sold separately. No final agreement is assured and other bidders may still come in.

Not the first Getir unit out for Mubadala: The sovereign wealth fund sold Getir’s car rental subsidiary Getir Arac last month amid an ongoing power struggle between Mubadala and Getir’s founders on restructuring plans after the Turkish firm struggled with a plummeting valuation and cashburn. Mubadala had previously sought full ownership of its core delivery unit, which co-founder Nazim Salur opposed.

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