Qatar Airways Buys 9.99% Stake in British Airways Parent Company

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    Qatar Airways is taking a page from Etihad's playbook, as they've just announced a deal whereby they'll take over a 9.99% stake in IAG, which is the parent company of British Airways and Iberia. The deal is worth $1.7 billion, and comes at a time when IAG's stock is at an all time high. Here's the press release Qatar Airways has put out regarding the deal: "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%." The post Qatar Airways Buys 9.99% Stake in British Airways Parent Company appeared first on One Mile at a Time.

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