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Increase of equity stake in IAG

RNS Number : 5162Y
Qatar Airways (Q.C.S.C)
17 May 2016
 

Increase of equity stake in International Consolidated Airlines Group, SA ("IAG")

 

17 May 2016

 

Doha, Qatar - Qatar Airways has today increased its shareholding in IAG to 15.01%. Qatar Airways has decided to further deepen its relationship with IAG and the increased stake recognises the strengthening commercial and strategic ties between the companies‎.

 

Qatar Airways believes IAG is very well positioned in Europe on the back notably of its attractive exposure to the Transatlantic segment, its leading positions at the London and Madrid hubs and the future benefits from the acquisition ‎of Aer Lingus. Qatar Airways fully supports this ongoing strategy.

 

Non-EU shareholders of IAG including Qatar Airways are subject to an overall cap on non-EU ownership as a result of the requirement for EU airlines to be majority owned by EU shareholders. Qatar Airways may consider increasing its stake further over time within the allowable limits.

 

"We have been very happy with our investment in IAG, from a financial, commercial and strategic perspective. The relationship formed has helped to deliver on our westbound strategy. Furthermore, IAG's proven management and strategic direction have been the basis on which we will continue to forge a long-term relationship" said His Excellency Mr. Akbar Al Baker, Group Chief Executive of Qatar Airways.".

 

For further information contact:

Qatar Airways Group, Corporate Communications Department

Tel: +974 40222072, Fax: +974 40225350

E-mail: qrmedia@qatarairways.com.qa

Website: www.qatarairways.com

 

HSBC Bank plc (Financial Adviser)

Tel: +44 (0)20 7991 8888

Jody Sanderson

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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