Qatar Air raises holding in BA owner IAG to 20%
Qatar Airways raised its stake in BA owner IAG SA to 20%, taking advantage of a drop in the company’s stock price since the Brexit vote to tighten ties with its main European partner. The state-owned carrier, which increased its holding from 15.7% as of July 28, doesn’t plan to add to the stake, the company said Monday. “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,” Qatar Airways CEO Akbar Al Baker said. The announcement was the third time this summer that Qatar Airways, already London-based IAG’s biggest shareholder, has sought a stake in a foreign company. As part of its global expansion strategy, the Persian Gulf’s No. 2 airline also plans to buy as much as 10% of Latam Airlines Group and 49% of Italy’s second-largest airline, Meridiana Fly SpA.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-02/oneworld/qatar-air-raises-holding-in-ba-owner-iag-to-20
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Qatar Air raises holding in BA owner IAG to 20%
Qatar Airways raised its stake in BA owner IAG SA to 20%, taking advantage of a drop in the company’s stock price since the Brexit vote to tighten ties with its main European partner. The state-owned carrier, which increased its holding from 15.7% as of July 28, doesn’t plan to add to the stake, the company said Monday. “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,” Qatar Airways CEO Akbar Al Baker said. The announcement was the third time this summer that Qatar Airways, already London-based IAG’s biggest shareholder, has sought a stake in a foreign company. As part of its global expansion strategy, the Persian Gulf’s No. 2 airline also plans to buy as much as 10% of Latam Airlines Group and 49% of Italy’s second-largest airline, Meridiana Fly SpA.<br/>
