Aviation
Qatar Airways buys 9.6% stake in Cathay Pacific
Qatar Airways announced today it has bought a stake in Cathay Pacific, giving the Doha-based airline a toehold in the potentially lucrative Asian aviation market. The state-owned Gulf carrier said it had acquired a 9.6 per cent stake in Cathay, which would make it the third largest shareholder in the Hong-Kong based airline. Bloomberg News said the deal was worth USD 662 million. Qatar Airways group chief executive Akbar Al-Baker said in a company statement that Cathay was “one of the strongest airlines in the world”, adding it had “massive potential”. The acquisition comes during the ongoing political crisis in the Gulf, the worst to hit the region in years. Since June, Qatar has been isolated by neighbouring countries including Saudi Arabia and the United Arab Emirates.
As part of that dispute, Qatar Airways has been stopped from flying to Saudi Arabia and the UAE, previously popular destinations for the carrier. The deal with Cathay Pacific also comes after Qatar Airways halted a bid in August to buy a 10 per cent stake in American Airlines.
Aviation
Boeing, Antonov to Collaborate on Defense Projects
– MOU represents Boeing’s commitment to work with Ukrainian industry
– Includes exploring opportunities for collaborating on in-country support of Unmanned Aerial Systems
A Memorandum of Understanding was signed today by Boeing and Antonov Company to investigate potential collaboration on defense-related projects.
“We’re happy to keep collaborating with the Antonov Company to help Ukraine’s economic development and expansion,” stated Ted Colbert, CEO and president of Boeing Defence, Space, & Security.
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“This agreement demonstrates our ongoing efforts to find more opportunities to work with Ukrainian industry, which was underscored by our signing of the Ukrainian Defence Industry Compact earlier this year.”
The areas of potential collaboration identified in the agreement consist of training, logistical support and overhaul services for tactical Unmanned Aerial Systems utilized by the Ukrainian Armed Forces, which includes the ScanEagle. In addition, the companies will also explore opportunities for Antonov to provide engineering support to Boeing.
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“A strong, innovative, and efficient defense industry is key to sustainable economic development and national security, and we are extremely excited to collaborate with Boeing,” said Ievhen Gavrylov, CEO of Antonov Company.
This agreement brings a whole new level of opportunity to implement the latest and most effective solutions – in addition to the possibility of future projects with Boeing in the aerospace and defense industry.”
Boeing, Antonov to Collaborate on Defense Projects
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