Qatar Airways has increased its ownership share of British
Airways parent International Airline Group (IAG).
Qatar’s flag carrier now owns 25.1% of IAG, up from
21.4%. The new investment cost $604 million, according to a Reuters analysis of
the IAG share price.
“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 CEO Akbar Al Baker said in a prepared remark.
Along with British Airways, IAG owns Iberia, Vueling, Level
and Aer Lingus. It is seeking regulatory approval to acquire Air Europa.
Qatar first invested in IAG in 2015. This latest investment
comes a month before the retirement of IAG CEO Willie Walsh, who will be
replaced by Iberia CEO Luis Gallego. It also comes eight days after Air Italy,
of which Qatar Airways owns 49%, said it would liquidate.
Qatar also owns stakes in Latam and Cathay Pacific and is
attempting to negotiate a purchase of 49% of Rwanda’s Rwand Air.
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