Last checked at 1 Aug 2016 07:00
Increase of equity stake in International Consolidated Airlines Group, SA ("IAG")
1 August 2016
Doha, Qatar - On 12th July 2016 Qatar Airways announced that it held a 15.67% shareholding in IAG and reiterated that it may consider increasing its stake further within the allowable limits. 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.
As of 28 July, Qatar Airways is pleased to announce that it now holds 20.01% of IAG. 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.
"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 in IAG. We continue to be highly supportive of IAG's strategy and management team and we do not intend to increase our percentage shareholding further unless there are material changes to the current situation." said 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