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.

Comments

From Our Partners

2020 Kaanapali Beach Hotel Webinar
Exciting News at Kāʻanapali Beach Hotel
Register Now
Riviera Nayarit Must Sees
10 Must-See Sites in Riviera Nayarit
Read More
2020 Yalla Tours Webinar
Expo Dubai World Fair, Cuba, Egypt & More with Ronen Paldi of Ya’lla Tours USA
Register Now

JDS Travel News JDS Viewpoints JDS Africa/MI