Qatar Airways acquires 9.99% stake in IAG

Qatar Airways has acquired a 9.99 per cent stake in International Airlines Group (IAG), the parent firm of British Airways, Iberia, and Vueling Airlines.


Qatar Airways acquires 9.99% stake in IAG


Qatar Airways has acquired a 9.99 per cent stake in International Airlines Group (IAG), the parent firm of British Airways, Iberia, and Vueling Airlines.

The transaction is valued at roughly GBP1.15 billion (US$1.7 billion), with the Qatari carrier saying it may consider increasing its stake further over time.

“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,” Akbar Al Baker, group chief executive of Qatar Airways, said.

Commenting on the share acquisition, Willie Walsh, IAG chief executive, said: “We’re delighted to have Qatar Airways, one of the world’s premier airlines, as a long term supportive shareholder.

We will talk to them about what opportunities exist to work more closely together and further IAG’s ambitions as the leading global airline group.”

The announcement came as somewhat of a surprise to the market, although it likely shouldn’t have given the various cooperation already in place between the two, including: British Airways’ role in bringing Qatar into the oneworld alliance; codesharing on a number of routes; and the fact Qatar operates freighter capacity for IAG Cargo.