Qatar ups stake in IAG to 15.01%
18 / 05 / 2016
Qatar Airways has raised further its stake in British Airways-owner International Consolidated Airlines Group (IAG) to 15.01% and may consider acquiring more of the company over time, the airline told Reuters.
Less than a month ago Qatar Airways raised its stake in IAG to just under 12% from 9.99%.
Speaking at a press conference in Atlanta, Qatar Airways’ chief executive Akbar al-Baker said he wanted to deepen links to London, where British Airways has its main hub.
The investment has helped Qatar Airways deliver on its westbound strategy, the airline said in a separate statement.
"This is the hottest news coming out of the bakery," al-Baker said. "We may consider expanding further within the limits of the non-European Union countries."
Under current rules, foreign investors cannot own more than 49% of a European airline.