QR to hold 9.99% of International Airlines Group.
Qatar Airways has just confirmed the acquisition of a 9.99% shareholding in IAG, the parent company of British Airways, Iberia and Vueling.
QR ceo Akbar Al Baker said the move was part of efforts to enhance operations and strengthen existing commercial ties with IAG carriers, alongside its membership of the oneworld airline alliance.
“IAG represents an excellent opportunity to further develop our Westwards strategy,” he said.
“Having joined the oneworld alliance it makes sense for us to work more closely together in the near term, and we look forward to forging a long term relationship,” Al Baker said.
Non-European shareholders of IAG – including Qatar Airways – are subject to an overall cap on non-EU ownership, because EU airlines are required to be majority owned by European shareholders.
“Qatar Airways may consider increasing its stake further over time,” the airline said, but added this is not currently intended to exceed 9.99%.
More information in Monday’s issue of Travel Daily.