Qatar Airways increased its stake in UK’s IAG, an airline group with a portfolio which includes
British Airways, Iberia Airways and other prominent airlines, for the second time in less than a month’s time.
The airline raised it’s shareholders level to be 15.1% when just a month ago it was only 9.99%.
More important however is Qatar Airways statement they have the ambition to increase their ownership of IAG to 49%, which is the maximum limit allowed on foreign-ownership that currently was enforced by the European Union regulators.
Qatar Airways CEO Akbar Al Baker stated that the deal was part of the airline’s westbound strategy to spread its connections to the Middle East, America, Europe and Asia. He continued by saying “It gives us a huge benefit from a financial, commercial and strategic perspective,”
The UAE based airline Qatar Airways, invested in IAG during January 2015 for the first time taking a 9.99% share. At the same time, European and American airlines were complaining that the “Gulf carriers were receiving prejudiced government allowances which enabled them quick growth and expansions on a global scale.
Additional cargo handling collaborations are expected as a results of Qatar’s ownership in IAG. The British airline quit from the freighter business back in 2014 while Qatar Airways Cargo continued to operate a robust freighter fleet which includes eight A330-200Fs and nine 777Fs. Since September 2014, IAG has ecured block space on various operated routes from Qatar Airways.