Qatar Airways raises stake in BA owner to 15%

GMT 07:23 2016 Wednesday ,18 May

Arab Today, arab today Qatar Airways raises stake in BA owner to 15%

Qatar Airways chief executive Akbar al-Baker
Doha - AFP

Qatar Airways on Tuesday raised its shareholding in British Airways owner IAG to just over 15 percent and announced it is likely to further increase its stake.

In a statement to the London Stock Exchange, the Doha-based carrier said its shareholding in International Airlines Group (IAG), which also owns Iberia, now stands at 15.01 percent.

It is the second time it has increased its share in IAG in the past month.

"We have been very happy with our investment in IAG from a financial, commercial and strategic perspective," Qatar Airways chief executive Akbar al-Baker said in the statement.

The statement also noted there was a cap on non-EU shareholders of IAG -- international investors cannot own more than 49 percent of a European airline -- but said that would not deter it from further acquisitions.

"Non-EU shareholders of IAG including Qatar Airways are subject to an overall cap on non-EU ownership as a result of the requirement for EU airlines to be majority owned by EU shareholders," read the statement.

"Qatar Airways may consider increasing its stake further over time within the allowable limits."

Arab Today, arab today
Arab Today, arab today
arabtoday arabtoday arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabs, Arab, Arab