Airline News
Qatar Airways buys 10% of IAG
February 3rd 2015
Doha-based Qatar Airways has acquired a 9.99% stake in British Airways/Iberia parent company, International Airlines Group (IAG), for 1.15 billion pounds ($1.73 billion). Read More »
The Gulf carrier, led by chief executive, Akbar Al Baker, said the move was “part of efforts to enhance operations and strengthen existing commercial ties initiated through codeshare agreements with IAG as well as its membership of the oneworld alliance.”
He added the carrier’s equity stake in IAG represented “an excellent opportunity to further develop our Westward strategy”, which has often been described as a westward invasion by Qatar Airways’ European and North American competitors. The move is expected to provide the Gulf carrier with greater access to the lucrative transatlantic market, while British Airways would gain a stronger foothold in India and across the Asia-Pacific.
Meanwhile, UAE rival carrier, Etihad Airways, last August formed an equity alliance with eight global carriers in which it holds stakes. In 2013, Dubai-based Emirates Airline entered a five-year alliance with Qantas Airways.
