Deal-hungry Qatar Airways aims to create virtual mega-carrier

Qatar Airways wants to create a virtual mega-carrier that will benefit from economies of scale in negotiations on fuel and aircraft purchases while it boosts investment in other airlines, its CE said Tuesday. The carrier announced a US$661m deal Monday to buy a 9.61% stake in Cathay Pacific Airways to broaden its reach and potentially allow the oneworld alliance member to increase traffic through its Doha hub. "Frankly, I wish I could buy more. But the Swire Group and Air China hold most of it and I’m the third-largest shareholder, which is not bad," Qatar Airways CE Akbar Al Baker said. Al Baker said that Qatar Airways wants shareholdings to be exchanged between itself and its portfolio airlines as it seeks to become a virtual mega-carrier. "I see a lot of synergies we could bring as a group," he said, <br/>