Qatar Airways raises stake in BA owner to 15%

DOHA: Qatar Airways on Tuesday (May 17) raised its shareholding in British Airways owner IAG to just over 15 per cent and announced it is likely to further increase its stake.

In a statement to the London Stock Exchange, the Doha-based carrier said its shareholding in International Airlines Group (IAG), which also owns Iberia, now stands at 15.01 per cent. It is the second time it has increased its share in IAG in the past month.

“We have been very happy with our investment in IAG from a financial, commercial and strategic perspective,” Qatar Airways chief executive Akbar al-Baker said in the statement.

The statement also noted there was a cap on non-EU shareholders of IAG – international investors cannot own more than 49 per cent of a European airline – but said that would not deter it from further acquisitions.

“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,” read the statement. “Qatar Airways may consider increasing its stake further over time within the allowable limits.”
– AFP/de

Channel Newsasia