Qatar Airways has agreed to acquired 10 per cent of Latin American carrier LATAM Airlines.
The deal between the Oneworld partners will see $613 million injected into the airline.
"Latam represents an exciting opportunity to invest and support the development of our long-term relationship,” said Qatar Airways CEO Akbar Al Baker.
“As a leading airline in Latin America, and key member of Oneworld, this investment provides potential opportunities for Qatar Airways’ global network, alongside our successful investment in IAG,” he added.
The announcement was made at the Farnborough International Air Show in England, by both airlines' CEOs Al Baker Enrique Cueto of LATAM Airlines Group.
The companies expect the transaction to be completed within the fourth quarter of 2016.
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