Qatar Airways seeks to create a virtual mega carrier with deals: CEO

Qatar Airways seeks to create a virtual mega carrier with deals: CEO:

"Qatar Airways wants to create a virtual mega-carrier that will give it economies of scale in negotiating fuel and operations, as it expands investments in other airlines, its chief executive said on Tuesday.

The Qatari carrier announced a $661 million deal on Monday to buy a 9.61 percent stake in Hong Kong’s Cathay Pacific Airways Ltd (0293.HK), in a deal that will broaden its reach and potentially allow the oneworld alliance member to increase traffic through its Doha hub.

“Frankly I wish I could buy more. But the Swire Group and Air China hold most of it and I’m the third largest shareholder which is not bad,” Qatar Airways Chief Executive Akbar Al Baker said at the CAPA Asia Summit 2017 in Singapore, referring to Cathay’s top shareholders."



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