CPCAY News Today, Nov 6: Cathay Pacific Soars After Qatar Airways’ 9.6% Stake Buyback

Cathay Pacific Airways’ stock (CPCAY) experienced a significant surge today, climbing by 5.4%. This uptick follows the announcement of Cathay Pacific’s plan to buy back Qatar Airways’ 9.57% stake for HK$6.97 billion. This strategic move highlights the company’s commitment to consolidating its position as a global aviation leader centered in Hong Kong. The buyback not only bolsters investor confidence but also demonstrates Cathay Pacific’s strength as it navigates the competitive airline industry.