Absolute Confidence in Cathay Pacific: Qatar Airways CEO

Qatar Airways has confidence that its partner Cathay Pacific Airways Ltd will overcome the crisis wrought by the coronavirus pandemic, after shareholders of the Hong Kong-based carrier approved a plan to avoid collapse. “I have absolute confidence in every airline that we have invested,” Qatar Airways chief executive officer HE Akbar al-Baker said in an interview with Bloomberg TV. Cathay has stated its intention to continue operations in Hong Kong and to resume growth, he said.

Cathay’s shareholders – Qatar Airways owns a 10% stake – approved a $5bn rescue plan backed by the government that includes the sale of preference shares and a rights issue. Al-Baker also said he notified Airbus SE and Boeing Co of a delay in aircraft deliveries by several years. The CEO had demanded flexibility from the duoploy.