QATAR AIRWAYS ACQUIRES A STAKE IN IAG
Qatar Airways has acquired a 9.99 percent stake in International Consolidated Airlines Group (IAG). IAG is the holding company formed with the merger of BA and Iberia Airlines in 2011.
“IAG represents an excellent opportunity to further develop our Westwards strategy. 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,”said Akbar Al Baker, group chief executive of Qatar Airways.
Non-EU shareholders of IAG including Qatar Airways are subject to an overall cap on non-EU ownership as a result of the requirement for EU airlines to be majority owned by EU shareholders.