Qatar Airways boosts stake in British Airways owner IAG to 25%

Qatar Airways boosts stake in British Airways owner IAG to 25% | Secret Flying

Qatar Airways has increased its stake in IAG to 25.1%

 

Qatar Airways has announced it has increased its share in the parent company of British Airways, International Airlines Group, from 21.4% to 25.1%.

 

The cost for increasing its share by 3.7% is estimated at $600 million.

 

The news is a vote of confidence in IAG, whose chief executive Willie Walsh is due to depart after 15 years as CEO.

 

Qatar Airways is fully committed to its policy of building a global group of carriers, after its Arab neighbours imposed restrictions in 2017 on all land, air and sea traffic with the small gulf state.

 

Speaking about the increased stake in IAG, Qatar Airways Group chief executive Akbar Al Baker, praised his company’s vision.

 

“Our investment to date has been highly successful and the announced increase in our shareholding is evidence of our continued support of IAG and its strategy,” he said.

 

“Qatar Airways continues to consider opportunities to invest in airlines and support management teams that share our vision to enhance travel opportunities for airline passengers across the globe.”

 

Qatar Airways already has minority stakes in China Southern Airlines and Cathay Pacific.

 

According to reports, the Doha-based company is considering doubling its holding in South America’s LATAM Airlines Group to 20% and buying a 49% stake in Africa’s RwandAir.