30th Jan 2015 07:25
LONDON (Alliance News) - International Consolidated Airlines Group SA on Friday said Qatar Airways has acquired a 9.99% stake in the company.
Qatar Airways said the acquisition of the stake was a push to strengthen the existing commercial ties between the two carries.
Qatar said it may consider increasing its stake in IAG over time, but does not currently intend it to exceed the 9.99% level.
No financial details were given on the acquisition of the stake.
"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," said IAG Chief Executive Willie Walsh.
IAG currently is in talks to buy Irish flag carrier Aer Lingus Group PLC.
By Sam Unsted; [email protected]; @SamUAtAlliance
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