Qatar increases stake in IAG
Qatar Airways has increased its stake in International Airlines Group (IAG) to more than 20%.
The airline group owns a number of airlines including British Airways, Vueling and Iberian. Only three weeks ago the Doha airline announced that it held a 15.67 per cent shareholding in the group and said it may consider increasing its stake further within the allowable limits.
Non-EU shareholders of IAG including Qatar Airways are subject to an overall cap on non-EU ownership as a result of the requirement for EU airlines to be majority owned by EU shareholders.
Qatar has now confirmed it holds 20.01 per cent of IAG. In a statement the airline said: “While Qatar Airways’ interest in IAG is purely financial, the increased shareholding reflects the strength of commercial and strategic ties between the companies and evidences the continued support for the ongoing strategy of IAG.”
Commenting on the latest investment, Akbar Al Baker, Qatar Airways group chief executive said: “The recent market valuation of one of the world's leading airline groups has provided what we believe is an attractive opportunity to increase our shareholding in IAG. We continue to be highly supportive of IAG's strategy and management team and we do not intend to increase our percentage shareholding further unless there are material changes to the current situation."