Aug 01, 2016: Qatar Airways increases stake in International Airlines Group (IAG) to 20.01 percent from 15.67 percent on July 28, 2016.
Earlier, on July 12, 2016, it had held 15.67 percent shareholding.
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.
While Qatar Airways’ interest in IAG is purely financial, the increased shareholding reflects the strength of commercial and strategic ties between the companies and evidences the continued support for the ongoing strategy of IAG.
“The recent market valuation of one of the world’s leading airline groups has provided what we believe is an attractive opportunity to increase our shareholding in IAG. We continue to be highly supportive of IAG’s strategy and management team and we do not intend to increase our percentage shareholding further unless there are material changes to the current situation,” said Akbar Al Baker, group chief executive of Qatar Airways.