Qatar Air plots new acquisition to extend global growth push

Qatar Airways plans to buy a stake in another foreign airline, extending an expansion push that’s seen the Gulf carrier build up overseas holdings and announce new routes to the US even as President Donald Trump’s seeks to restrict travel to the world’s largest economy. The state-owned company, which has expressed interest in Royal Air Maroc in the past, expects to finalise the purchase of a 49% stake in Italy’s Meridiana in the coming days. The Persian Gulf airline also plans to submit a joint application with Qatar Investment Authority to set up a new Indian carrier in “weeks,” CEO Akbar Al Baker said on Monday. “We see potential in another acquisition in a region which, unfortunately, I cannot disclose at the moment,” Al Baker said. “The world is still too large, and we see there is potential for us in still many other regions and cities in the world.” Qatar Airways has aggressively expanded in recent years, accumulating 20% of BA parent IAG and buying 10% of South America’s biggest carrier LatAm Airlines. While the strategy is a gamble, given restrictions on foreign influence and control in most countries, Al Baker said his company will seek to help cut costs by cooperating with its partners on ordering planes and securing supplies. For the new Indian carrier, the majority stake would be owned by QIA, with Qatar Air taking a minority stake, sidestepping restrictions by the Indian government on ownership of domestic carriers by foreign airlines. The new carrier would have a fleet of 100 narrow-body planes and Qatar Air is open to offers from Boeing, Airbus and Embraer as well as revived interest in Bombardier’s C Series, Al Baker said.<br/>