IN BRIEF | Qatar Airways has taken a 9.99% stake in International Consolidated Airlines Group, the parent of both British Airways and Spain's Iberia.
Qatar says the investment represents "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."
“IAG represents an excellent opportunity to further develop our Westwards strategy" said Qatar Airways CEO Akbar Al Baker.
"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."
The airline said in a statement that it may consider increasing its stake further over time, although this is not currently intended to exceed 9.99%.
IAG has recently made overtures to Aer Lingus for a £1 billion (A$1.9 billion) takeover which would also see the Irish airline rejoins the Oneworld alliance.
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David Flynn is the Editor-in-Chief of Executive Traveller and a bit of a travel tragic with a weakness for good coffee, shopping and lychee martinis.
21 Apr 2012
Total posts 3006
Nice one... Right after the purchase of Canary Wharf.
Does BA/IAG still own a bit of Qantas?
Qantas - Qantas Frequent Flyer
17 Aug 2012
Total posts 2199
BA doesn't own any of QF anymore.
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