INTERNATIONAL - Qatar Airways has full confidence in Cathay Pacific Airways Ltd and will increase its 10 percent stake in the Hong Kong carrier if it has any opportunity to do so, the Qatari airline’s chief executive said on Tuesday.
Cathay has become the biggest corporate casualty of political unrest in Hong Kong after China demanded it suspend staff involved in, or who support, anti-government demonstrations.
“Cathay Pacific is there to stay, and to expand and to serve the people of both Hong Kong and China, as Hong Kong is an integral part of mainland China,” Qatar Airways’ Chief Executive Akbar al-Baker said. “We have no concern about the brand, we have no concern on the viability of the airline.”
He was speaking at a function to announce the launch of flights from Doha to the Malaysian island of Langkawi from October.
The Hong Kong airline’s other major shareholders are Swire Pacific Ltd, which has a 45 percent stake and management rights, and Air China Ltd, with 30 percent.