Qatar Airways Takes 10% Stake In BA Owner

Qatar Airways says it has taken a 9.99% stake in International Consolidated Airlines Group (IAG) to "enhance" their operational ties.

Qatar, which partners the IAG airline brands British Airways and Iberia in the oneworld alliance, said it would look to strengthen its commercial relationship with the European group.

Akbar al Baker, the chief executive of Qatar Airways, said: "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.

Qatar also confirmed it may consider increasing its stake over time, although it was not currently intending to do so.

The announcement was made as IAG chases a takeover of Ireland's Aer Lingus.

IAG chief executive Willie Walsh welcomed Qatar's investment.

He said: "We're delighted to have Qatar Airways, one of the world's premier airlines, as a long-term supportive shareholder.

"We will talk to them about what opportunities exist to work more closely together and further IAG's ambitions as the leading global airline group."

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