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Qatar Airways - Acquisition of a 9.99% stake in IAG

RNS Number : 5536D
Qatar Airways (Q.C.S.C)
30 January 2015
 

Acquisition of a 9.99% stake in International Consolidated Airlines Group, SA ("IAG")

30 January 2015

Doha, Qatar - As 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, Qatar Airways has acquired a 9.99% stake in IAG.

Non-EU shareholders of IAG including Qatar Airways are subject to an overall cap on non-EU ownership as a result of the requirement for EU airlines to be majority owned by EU shareholders. Qatar Airways may consider increasing its stake further over time although this is not currently intended to exceed 9.99%.

"IAG represents an excellent opportunity to further develop our Westwards strategy.  Having joined the oneworld alliance it makes sense for us to work more closely together in the near term and we look forward to forging a long term relationship" said His Excellency Mr. Akbar Al Baker, Group Chief Executive of Qatar Airways.

For further information contact:

Qatar Airways Group Corporate Communications Department

Tel: +974 4022 5350

Website: www.qatarairways.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Quick facts: International Consolidated Airlines Group

Price: 202.3

Market: LSE
Market Cap: £4.07 billion
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