QATAR UPS STAKE IN IAG

7 Days in Dubai - - BUSINESS -

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.

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