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Qatar Airways Group has increased its shareholding in International Consolidated Airlines Group from 21.4 per cent to 25.1 per cent.
Qatar Airways Group chief executive, Akbar Al Baker, stated: “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.
“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, the national carrier of the state of Qatar, flies to more than 160 business and leisure destinations on board a fleet of more than 250 aircraft.
The increase comes less than a month after International Airlines Group removed a cap on non-European Union investment imposed as part of Brexit preparations.
International Airlines Group is one of the world’s largest airline groups, with 573 aircraft flying to 268 destinations and carrying around 118 million passengers each year.
It is a Spanish registered company with shares traded on the London Stock Exchange and Spanish Stock Exchanges.
The group includes British Airways, Aer Lingus, Vueling, Iberia and Level, while there are also plans to acquire Air Europa for €1 billion.
Qatar Airways has invested widely, owning stakes in Latam, Cathay Pacific and China Southern Airlines.
Source: breakingtravelnews.com
