Qatar Airways has ‘absolute’ confidence in Cathay Pacific

Qatar Airways has confidence that its partner Cathay Pacific 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 CEO Akbar Al Baker said. Cathay has stated its intention to continue operations in Hong Kong and to resume growth, Al Baker said. Cathay’s shareholders -- Qatar Airways owns a 10% stake -- approved a $5b rescue plan backed by the government that includes the sale of preference shares and a rights issue. In the wake of an International Court of Justice ruling this week, Al Baker said the question of when Qatar Airways will be able to resume flying over four countries that have banned it from their airspace -- Saudi Arabia, the United Arab Emirates, Bahrain and Egypt -- is “with the ICAO.” The court on Tuesday gave the ICAO jurisdiction to oversee negotiations on the dispute, which affects Qatar-registered aircraft in skies controlled by the four boycotting countries. By closing the airspace, the Saudi-led bloc is going against the terms of the Chicago Convention signed by the four states, Al Baker said.<br/>