Qatar Airways moved to expand its
global stake in the airline industry this week.
At Farnborough International
Airshow in the U.K. on Thursday, the growing Gulf carrier announced that it has
signed a deal to purchase 49% of Meridiana, the second-largest airline in
Two days earlier, also at Farnborough, Qatar said that it had made
a deal to acquire up to 10% of Oneworld alliance partner Latam Airline Group
through an increase in its stock holdings. Latam is South America’s largest
The closing of the Meridiana deal
is scheduled for early October. Latam shareholders will gather no later than
Sept. 2 to propose issuing $613 million in new shares to be acquired by Qatar
at $10 per share.
Meridiana has its hub in Sardinia
and serves only New York Kennedy in the U.S., from where it flies to
Naples and Palermo.
Latam flies to five U.S.
destinations from various South American locales: Miami, Los Angeles,
Washington Dulles, Orlando and New York. Its primary hubs are in
Sao Paulo; Bogota, Colombia; and Santiago, Chile.
“Qatar Airways continues to expand
its business opportunities around the world, increasing travel options for our
passengers while also enhancing our investment portfolio,” Qatar CEO Akbar Al