Qatar Airways has increased its stake in British Airways’ parent company IAG to just over 15 per cent.
The Doha-based airline originally took a 9.99 per cent shareholding in IAG in January 2015. IAG also owns Iberia, Vueling and Aer Lingus.
Qatar announced it had increased its stake in IAG to 15.01% today (May 17) because it wanted to “further deepen its relationship with IAG” and the higher shareholding “recognises the strengthening commercial and strategic ties between the companies”.
“Qatar Airways believes IAG is very well positioned in Europe on the back notably of its attractive exposure to the transatlantic segment, its leading positions at the London and Madrid hubs and the future benefits from the acquisition of Aer Lingus,” said the airline in a statement.
The carrier added that it “may consider increasing its stake further over time within the allowable limits”.
Qatar’s CEO Akbar Al Baker added: “We have been very happy with our investment in IAG from a financial, commercial and strategic perspective.
“The relationship formed has helped to deliver on our westbound strategy. Furthermore, IAG's proven management and strategic direction have been the basis on which we will continue to forge a long-term relationship.”