As part of efforts to enhance operations and strengthen existing commercial ties initiated through codeshare agreements with IAG as well as its membership of the oneworld alliance, Qatar Airways has acquired a 9.99% stake in IAG. This ownership converts to £1.2 billion ($1.7 billion) stake in International Consolidated Airlines Group SA, the owner of the British Airways and Iberia airlines.
IAG stands for the International Airlines Group and is one of the world’s largest airline groups.
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. Qatar Airways may consider increasing its stake further over time although this is not currently intended to exceed 9.99%.
“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 His Excellency Mr. Akbar Al Baker, Group Chief Executive of Qatar Airways.
Recently competitor Etihad Airways based in Abu Dhabi, United Arab Emirates announced a 49% ownership of Alitalia.
WHAT TO TAKE AWAY FROM THIS ARTICLE:
- 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.
- 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 His Excellency Mr.
- As part of efforts to enhance operations and strengthen existing commercial ties initiated through codeshare agreements with IAG as well as its membership of the oneworld alliance, Qatar Airways has acquired a 9.
