Qatar Airways ups IAG stake to 20%

Qatar Airways has upped its stake in International Airlines Group (IAG) to 20.1%.

“While Qatar Airways’ interest in IAG is purely financial, the increased shareholding reflects the strength of commercial and strategic ties between the companies and evidences the continued support for the ongoing strategy of IAG,” the Doha-based airline said in a statement on Monday.

On 12 July, Qatar Airways announced that it held a 15.67% shareholding in International Airlines Group (IAG) and reiterated that it may consider increasing its stake further within the allowable limits. 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.

As of 28 July, Qatar Airways upped its stake to 20.01%.

“The recent market valuation of one of the world’s leading airline groups has provided what we believe is an attractive opportunity to increase our shareholding in IAG. We continue to be highly supportive of IAG’s strategy and management team and we do not intend to increase our percentage shareholding further unless there are material changes to the current situation,” said Qatar Airways group chief executive Akbar Al Baker.

sourced:travedlailymedia.com