8 AUGUST 2016

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Article from BTNews 8 AUGUST 2016

Qatar boosts IAG stake

A 15% stake in International Airlines Group (IAG), the parent company of British Airways, by Qatar Airways was increased last week to 20.01% following a fall in IAG’s share price following the Brexit vote.

In a week when Chinese investment in the UK’s Hinckley Point nuclear power station was questioned, the news immediately raised eyebrows in aviation circles. Qatar however said it did not intend to increase the IAG stake beyond allowable limits.

The airline noted that “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”.

Its statement added: “While Qatar Airways’ interest in IAG is purely financial, the increased shareholding reflects the strength of commercial and strategic ties between the companies and evidences the continued support for the ongoing strategy of IAG.

Qatar group chief executive Akbar Al Baker said: "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. 

“We continue to be highly supportive of IAG's strategy and management and do not intend to increase our percentage shareholding further unless there are material changes to the current situation." 

www.qatarairways.com

www.iairgroup.com

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