Qatar Airways is continuing its meal of IAG – the group that owns British Airways, Iberia, Vueling and Aer Lingus – with an increase of its shareholding from 15.67% to 20.01%.
Qatar Airways Boeing 787 Dreamliner landing at Birmingham Airport – Image, Economy Class and Beyond
The airline in the past announced it was interested in expanding its shareholding in IAG – and thus the airline has increased its stake-holding in the airline group within the limits allowed by EU regulations.
With the latest purchase of stock, Qatar Airways owns 20.01% of IAG.
Qatar Airways investment in IAG is a fiscal one as opposed to one that influences the product – supporting the commercial and strategic ties between the companies.
Akbar Al Baker, Group Chief Executive of Qatar Airways states:
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
The situation has occurred to the slump in value of IAG shares recently (post Brexit vote) – and Qatar Airways have gone for a nibble at a cheap price.
For IAG – it’s another vote of confidence in their strategy – although from a passenger experience viewpoint, there is a lot to be desired from one of the IAG airlines as it attempts to cut costs….
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