QATAR AIR­WAYS AC­QUIRES A STAKE IN IAG

Business Traveler (USA) - - UPFRONT -

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.

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