Qatar Airways now owns fully 25% of British Airways parent company IAG
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The airline previously held 21.4% of IAG, however, on Wednesday morning, the airline announced that it had increased that amount to 25.1% — a move that cost around £461 million.
“Our investment to date has been highly successful and the announced increase in our shareholding is evidence of our continued support of IAG and its strategy”, Qatar CEO Akbar Al Baker said in a statement.
Qatar first invested in IAG in 2015 with a 9.99% stake. Since the initial investment, Qatar has been steadily increasing its stake. Last month, IAG lifted restrictions that capped how much non-European Union investors could hold of the company.
In January, long-time CEO of IAG Willie Walsh announced he would step down on 26 March before fully retiring on 30 June. With the departure of Walsh and increased investment from Qatar Airways, the Doha-based airline will likely have more leverage.
Featured photo by DANIEL LEAL-OLIVAS/AFP/Getty Images.