Spending about £461m, Qatar Airways has increased its shareholding in International Consolidated Airlines Group (IAG) from 21.4 per cent to 25.1 per cent.
Since investing 9.99% in IAG in 2015, Qatar Airways has steadily increased its stake over the years. This new development means that Qatar Airways owns a quarter stake prior to IAG’s boss, Willie Walsh retirement.
Qatar Airways Group Chief Executive Mr. Akbar Al Baker stated, “Our investment to date has been highly successful and the announced increase in our shareholding is evidence of our continued support of IAG and its strategy.”
“Qatar Airways continues to consider opportunities to invest in airlines and support management teams that share our vision to enhance travel opportunities for airline passengers across the globe.”
Qatar Airways has minority holdings in other carriers like Cathay Pacific and China Southern. The airline noted earlier this month that it was interested in doubling its holding in LATAM Airlines Group to 20% and was also in talks to buy a 49% stake in Africa’s RwandAir.