Airlines
Qatar Airways Takes Stake In IAG
Deal valued at $1.7 billion
Qatar Airways CEO Akbar Al Baker (Photo: Flickr: Creative Commons (BY-ND) by BreakingTravelNews)
Qatar Airways CEO Akbar Al Baker (Photo: Flickr: Creative Commons (BY-ND) by BreakingTravelNews)

Qatar Airways has acquired a 9.99-percent stake in International Airlines Group (IAG), the parent company of British Airways and Spain’s Iberia, Qatar announced on Friday. The deal reinforces commercial ties established through code-share agreements between Qatar and IAG and both airlines’ membership in the Oneworld alliance. Although a requirement that EU shareholders must own a majority of any EU airline will limit Qatar’s stake in IAG, the Gulf carrier said it might consider increasing its share “over time.” However, it added that it does not currently intend to own more than 9.99 percent.