Qatar Airways Increases its Stake Further in British Airways parent company IAG
Qatar Airways tightened it’s grip on British Airways by increasing it’s shareholding in International Consolidated Airlines Group, S.A (IAG) from 21.4% to 25.1% on the 19th February, the british airlines owner.
An announcement on the Qatar Airways website read:
Qatar Airways Group Q.C.S.C. (“Qatar Airways”) is pleased to announce that it has increased its shareholding in International Consolidated Airlines Group, S.A. (“IAG”) from 21.4 per cent to 25.1 per cent.
Qatar Airways Group Chief Executive Mr. Akbar Al Baker stated, “Our investment to date has been highly successful and the announced increase in our shareholding is evidence of our continued support of IAG and its strategy.”
“Qatar Airways continues to consider opportunities to invest in airlines and support management teams that share our vision to enhance travel opportunities for airline passengers across the globe.”
The state owned Qatari airline spent over £450 million on the share acquisition and comes as IAG’s current president Willie Walsh prepares to step down.
British Airways also announced on Sunday that operations chief Klaus Goersch and director of people Angela Williams were stepping down.