Qatar Buys 9.99% Stake in British Airways Parent IAG

In case you missed the news, Qatar Airways purchased a 9.99% stake in British Airways parent IAG at the end of January.

“IAG represents an excellent opportunity to further develop our westwards strategy,” Qatar Airways CEO Al Baker said in the statement. “It makes sense for us to work more closely together in the near term.”

According to Blomoberg, IAG CEO Willie Walsh said the investment will help IAG become the number one airline group. “We will talk to them about what opportunities exist to work more closely together,” he said in a statement from IAG.

The article points out that Qatar’s strategy is quite different from fellow Middle East carrier Etihad’s approach. Etihad has focused on building an alliance around equity stakes in struggling airlines like Air Berlin and Alitalia.

Check out the full article here.

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