Qatar buys stake in Cathay
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Curtain
Absolutely agree with your assessment and glad I had a chance to add my small contribution to what is becoming a congealing description of "The Way it Is"..
Time To Win Aye Wot.....
Time To Win Aye Wot.....
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Look at Al Jazeera report on Qatar share buy.
CX not consulted.
Swire forced to relinquish one seat on the board.
Qatar not attempting hostile takeover of CX.
Qatar placing itself strategically in China market with HKG slots in mind.
Qatar sees no place for CX Dragon in future expansion plans
Qatar owns 20% of IAG already
CX not consulted.
Swire forced to relinquish one seat on the board.
Qatar not attempting hostile takeover of CX.
Qatar placing itself strategically in China market with HKG slots in mind.
Qatar sees no place for CX Dragon in future expansion plans
Qatar owns 20% of IAG already
Amazing! Just a week after announcing they’re in it for the long haul.. opportunities are limitless and they’d continue to invest at even $20 per share Kingboard totally bail for a $175 million usd profile in less than a year... very cool! A perfect example of ‘believe nothing’ when anyone makes comment on where cx is going.
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Hogman BS
SCMP 7 Nov..
"Cathay Pacific CEO Rupert Hogg, said his airline “looked forward to a continued constructive relationship.”
What a crock of corporate BS speak if I've ever herd it.. RH and the lot of 9th Flr elites plus their UK muppet masters were blindsided by this and all he can do is spew this PC corporate nothingspeak.
The ex Army guy and Swire Borneo boat master could probably do better..
OMG, we're all done.....
Hint to CEO, before you “look forward to a continued constructive relationship.” - you must have a relationship !
"Cathay Pacific CEO Rupert Hogg, said his airline “looked forward to a continued constructive relationship.”
What a crock of corporate BS speak if I've ever herd it.. RH and the lot of 9th Flr elites plus their UK muppet masters were blindsided by this and all he can do is spew this PC corporate nothingspeak.
The ex Army guy and Swire Borneo boat master could probably do better..
OMG, we're all done.....
Hint to CEO, before you “look forward to a continued constructive relationship.” - you must have a relationship !
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The most interesting part of this is that Qatar know what it costs to run an airline. If they do get a seat on the board, Swire will have a very hard time explaining the money diversions to their wholly owned contracted entities. Air China get theirs back by doing the same to Swire on the CX holding but Qatar will want to know why the hell all of this money is being stripped from the books.
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Not a lot is making sense here. The company seems to be have blindsided by this and is scrambling.
Regarding a seat on the Board for Qatar, Cathay are saying they are not aware of any requirement to give Qatar a seat and they do not foresee Board composition changing. How can Cathay be "not aware" of their own Rules? I must remember that gem on my next Linecheck......
"Well young Gallagher... Let's have a brief chat about Fuel Policy...
Sorry mate, not aware of the Company Fuel Policy... So let's not"
Frogman... I don't understand why Cathay would need to issue more shares. They didn't when Kingboard owned the shares, so why would they need to when Qatar owns them?
Here's a conspiracy theory for you - perhaps Qatar was bank-rolling Kingboard and using them as a front and had Swires sold to Kingboard, Qatar wouid have bankrolled that as well, then Kingboard would have sold to Qatar and Cathay would have become a Qatar/ Air China owned airline. To really spice it up, perhaps Qatar and Air China were in cahoots and used Kingboard as a stalking horse to get rid of Swires......
Got to go, there's an Arabic looking gentleman knocking on my door... I wonder what he wants?
Regarding a seat on the Board for Qatar, Cathay are saying they are not aware of any requirement to give Qatar a seat and they do not foresee Board composition changing. How can Cathay be "not aware" of their own Rules? I must remember that gem on my next Linecheck......
"Well young Gallagher... Let's have a brief chat about Fuel Policy...
Sorry mate, not aware of the Company Fuel Policy... So let's not"
Frogman... I don't understand why Cathay would need to issue more shares. They didn't when Kingboard owned the shares, so why would they need to when Qatar owns them?
Here's a conspiracy theory for you - perhaps Qatar was bank-rolling Kingboard and using them as a front and had Swires sold to Kingboard, Qatar wouid have bankrolled that as well, then Kingboard would have sold to Qatar and Cathay would have become a Qatar/ Air China owned airline. To really spice it up, perhaps Qatar and Air China were in cahoots and used Kingboard as a stalking horse to get rid of Swires......
Got to go, there's an Arabic looking gentleman knocking on my door... I wonder what he wants?
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To offer you your new contract.
Why would they go to so much trouble to buy shares in a company that is supposedly in the worst financial position it has been in, in it's entire history? Someone is telling porky pies.
Why would they go to so much trouble to buy shares in a company that is supposedly in the worst financial position it has been in, in it's entire history? Someone is telling porky pies.
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"Qatar Air won’t seek a seat on that Cathay board, in line with its approach after investing in British Airways owner IAG SA and Latam Airlines Group SA, the biggest South American carrier, but aims to pursue opportunities for joint purchasing in areas such as ground handling, maintenance, components and fuel, Al Baker said on Bloomberg TV. The companies are also likely to code-share on flights beyond their Dubai and Hong Kong hubs."
Source: Bloomberg
Source: Bloomberg
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"...well, that's one thing, but how embarrassing is admitting to it so publicly through such terrible press release. Who is responsible for that and what is his/ her profession in real life?"
Where's Ivan Who when you need him. He'd have given a masterful press release, complete with Bloomberg interview.
Where's Ivan Who when you need him. He'd have given a masterful press release, complete with Bloomberg interview.
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Having 85% of shares holdings with three airlines, might not satisfy the following rule.
Shares in public hands. At least 25% of the applicant's total issued share capital must at all times be held by the public. For applicants with an expected market capitalisation of over HK$10 billion at the time of listing, the SEHK may consider accepting a lower percentage of public float of between 15% and 25%. The SEHK will not entertain an application to reduce the level of public float after the company is listed.
Shares in public hands. At least 25% of the applicant's total issued share capital must at all times be held by the public. For applicants with an expected market capitalisation of over HK$10 billion at the time of listing, the SEHK may consider accepting a lower percentage of public float of between 15% and 25%. The SEHK will not entertain an application to reduce the level of public float after the company is listed.
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....yes, but 'cheap fuel' would only cause the "Worlds Greatest Hedging Contract" to realise an even bigger paper loss. Only in CX world can high fuel prices be a good thing economically.
Statement by CEO of Kingboard a week before selling their 9% stake.....
In a wide-ranging interview, Cheung, 61, branded himself “a long-term investor” rather than “a corporate raider”, and said that Cathay Pacific was a “once in a lifetime” investment with a strong future ahead of it and that he would only want to tighten his grip on the airline.
So much for any public statement made by any of the protagonists in this fiasco being even remotely close to the truth!
In a wide-ranging interview, Cheung, 61, branded himself “a long-term investor” rather than “a corporate raider”, and said that Cathay Pacific was a “once in a lifetime” investment with a strong future ahead of it and that he would only want to tighten his grip on the airline.
So much for any public statement made by any of the protagonists in this fiasco being even remotely close to the truth!