Qatar Airways takes 9.99% stake in BA-owner IAG

Qatar Airways has bought a 9.99% stake in International Airlines Group, worth around £1.15bn ($1.7bn), building closer ties with the owner of its partners British Airways and Spain’s Iberia in the oneworld alliance.

Qatar’s national airline said it would look to strengthen commercial ties with the European company, and may consider increasing its stake over time, although it was not currently intending to exceed 9.99%.

“IAG represents an excellent opportunity to further develop our Westwards strategy,” said Qatar Airways Chief Executive Akbar al-Baker on Friday.
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Source News: Gulf Times