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Cathay Pacific to Cut 8,500 Jobs and Retire Older Aircraft; Hong Kong Carrier Posts HK$2.36 Billion Loss in First Half; Cathay Pacific's Parent Company Swire Pacific Posts HK$1.57 Billion Loss.

Qatar Airways has decided to sell its entire 9.6% stake in Hong Kong-based Cathay Pacific, valued at approximately $897 million. Cathay Pacific has agreed to repurchase these shares, marking the end of Qatar Airways' eight-year involvement in the airline.