Qatar Airways acquires close to 10% stake in BA parent

Paris

QATAR Airways said that it had acquired a 9.99 per cent stake in International Airlines Group (IAG), parent company of British Airways and Iberia of Spain, deepening a commercial partnership with the group and further extending the emirate's push into Europe.

Qatar Airways, based in Doha, said on Friday it had no immediate plans to increase its holding, which is valued at roughly £1.1 billion (S$2.2 billion), or about US$1.7 billion, and makes the carrier the largest individual shareholder of IAG.