| Owned by the country’s sovereign wealth fund, Qatar Airways has bought a stake worth about £1.15 billion ($1.7 billion) in the owner of British Airways and Iberia, International Consolidated Airlines Group (IAG), aiming to forge closer links to a group with two major European hubs and strong transatlantic networks.
According a Reuters report, Qatar Airways disclosed a 9.99 per cent holding in IAG on Friday. It already partners the mega airlines owner in the oneworld alliance and has limited code-sharing deals and a freight partnership with British Airways. Buying the stake could deepen the relationship, giving Qatar greater access to destinations served by the IAG’s London and Madrid hubs, particularly transatlantic, with North America well served by British Airways and South and Central America by Iberia...............................................Full Article: Source |