#Qatar Airways Lifts Stake in British Airways Owner IAG to 25% - Bloomberg

Qatar Airways Lifts Stake in British Airways Owner IAG to 25% - Bloomberg:

Qatar Airways lifted its stake in British Airways parent IAG SA, tightening its grip on the European carrier after expansion in the Gulf was thwarted by a Saudi-led embargo.

The increase to 25.1%, from 21.4%, comes less than a month after IAG removed a cap on non-European Union investment.

The move gives Qatar greater leverage as IAG Chief Executive Officer Willie Walsh prepares to exit the post next month, and BA grapples with fallout from the U.K. separating from the EU. Walsh and Qatar Airways Chief Executive Officer Akbar Al Baker have had one of the closest dynamics in the airline industry, and the increased holding will hand the Mideast carrier additional rights as that personal partnership comes to an end.

“Our investment to date has been highly successful and the announced increase in our shareholding is evidence of our continued support of IAG and its strategy,” Al Baker said in a statement Wednesday.