Qatar Airways to acquire 10 percent of IAG

31 Jan 2015

(MENAFN) Qatar Airways announced that it has bought nearly 10 percent of the parent company of British Airways and Spain’s Iberia, deepening wealthy Qatar’s business ties to Europe, Arab News reported.

The airline said the decision to buy 9.99 percent of International Consolidated Airlines Group (IAG) was part of an effort to enhance its operations and strengthen commercial ties with the European company.

“It makes sense for us to work more closely together in the near term and we look forward to forging a long-term relationship,” CEO said. Qatar Airways said it may consider increasing its stake further down the road.

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