1st Aug 2016 06:37
LONDON (Alliance News) - Qatar Airways on Monday said it has increased its holding in International Consolidated Airlines Group SA to 20%, taking advantage of the valuation of the Britisih Airways and Iberia owner following Brexit and a series of terror attacks which have depressed share prices in the travel industry.
Qatar Airways had said in July it held a 15.67% stake in IAG and may consider increasing this holding further. On Monday, it said this had been increased to 20.01%.
"The recent market valuation of one of the world's leading airline groups has provided what we believe is an attractive opportunity to increase our shareholding in IAG. We continue to be highly supportive of IAG's strategy and management team, and we do not intend to increase our percentage shareholding further unless there are material changes to the current situation." said Akbar Al Baker, Group Chief Executive of Qatar Airways.
By Sam Unsted; [email protected]; @SamUAtAlliance
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