Qatar lands 10% IAG stake as Gulf appetite for global assets sharpens

Qatar Airways has bought a 9.99% stake in International Airlines Group, worth £1.1bn, just two days after the Qatar Investment authority bought a stake in Canary Wharf. Akbar Al Baker, Qatar Airways' chief executive, said IAG ‘represents an excellent opportunity to further develop our westwards strategy’, and that it ‘may consider increasing its stake over time’. The state-backed carrier is now the biggest shareholder in IAG, and claims that the move is to ‘strengthen’ its membership with the Oneworld alliance - a scheme to bring together 15 major airlines and 30 affiliated carriers to offer inter-airline ticketing in order to create a much larger combined network.

 

 

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