QATAR UPS STAKE IN IAG
Middle East carrier Qatar Airways has boosted its stake in the parent company of British Airways and Iberia and now owns just over a fifth of the firm. The airline raised its stake in International Airlines Group (IAG) to 20.01 per cent, up from 15.67 per cent previously. It did not say how much it paid, but says IAG’s recent market valuation provided “an attractive opportunity”. IAG shares fell sharply after Britain voted to leave the European Union, and closed last week at 406 pence ($5.36) on the London Stock Exchange. The airline says its interest in IAG is “purely financial” and reflects the strength of ties between the companies.