Qatar Airways increases stake in British Airways parent

Qatar Airways has increased its ownership stake in the European airline conglomerate International Airlines Group (IAG) to 15.01%.
In a statement released through the London Stock Exchange Tuesday, the expanding Gulf carrier said it believes IAG is well-positioned in Europe, in large part due to its leading positions in London and Madrid as well as its exposure to the transatlantic market.
IAG owns British Airways, Spain’s flagship carrier Iberia, Ireland’s Aer Lingus and the Spanish low-cost carrier Vueling.
“Qatar Airways may consider increasing its stake further over time within the allowable limits,” the carrier said, referencing an EU rule that limits foreign ownership of airlines to 49%. “We have been very happy with our investment in IAG, from a financial, commercial and strategic perspective. The relationship formed has helped to deliver on our westbound strategy.”
Prior to its latest purchase, Qatar owned just less than 12% of IAG, according to various media outlets.
Yesterday’s announcement came as Qatar Airways CEO Akbar Al Baker was in Atlanta for a media event ahead of the carrier’s launch of direct service between Doha and Hartsfield-Jackson International Airport on June 1.
Legacy U.S. carriers have railed against Qatar and its Gulf competitors Emirates and Etihad, saying that they have used state subsidies to aid their expansion in violation of rules stipulated under international open-skies treaties. The Gulf carriers deny the charge.
Delta suspended its Atlanta-Dubai service in February, citing overcapacity on routes to the Middle East. Qatar had already announced plans to begin Doha-Atlanta service when Delta made its decision on Atlanta-Dubai.

Source: Travelweekly