Cathay Pacific & Qatar Airways

Cathay Pacific: Cathay Pacific is repurchasing the 9.57% stake from Qatar Airways for $896 million, reflecting strong confidence in its future and commitment to strengthening China — Hong Kong's aviation hub role. Its stock rose 4.2% after the announcement.

Qatar Airways: Qatar Airways is selling its entire 9.57% stake in Cathay Pacific for $896 million, ending an eight-year partnership. This move is part of its disciplined portfolio management and strategy to optimize investments for long-term growth.

Cathay Pacific: Cathay Pacific suspended operations in the region, affecting passenger and freighter flights to Dubai and Riyadh.

Qatar Airways: Qatar Airways temporarily suspended flights and its hub airport was closed, leading to significant travel disruptions and financial impact.

Cathay Pacific: Cathay Pacific has cancelled all passenger and cargo flights to United Arab Emirates — Dubai and Riyadh, but added extra flights to London and other European cities due to increased demand.