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Qatar Airways takes $1.7 bln stake in British Airways-owner IAG

Jan 31, 2015    

LONDON (Reuters) - Qatar Airways has bought a 9.99 percent stake in International Consolidated Airlines Group (IAG) worth around 1.15 billion pounds ($1.7 billion), building closer ties with the owner of its partners British Airways and Iberia in the oneworld alliance.Qatar's national airline said it would look to strengthen commercial ties with the European carrier and may consider increasing its stake over time, although it was not currently intending to exceed 9.99 percent."IAG represents an excellent opportunity to further develop our Westwards strategy," Qatar Airways Chief Exec...

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