#Qatar Airways ups holding in BA-owner IAG to 25.1% with new $600 million stake - Reuters

Qatar Airways ups holding in BA-owner IAG to 25.1% with new $600 million stake - Reuters:

Qatar Airways has bought a $600 million stake in British Airways-owner IAG (ICAG.L) to increase its holding to 25.1%, advancing its strategy of building a global portfolio of international carriers.

In an endorsement of the Anglo-Spanish group just weeks before its founder Willie Walsh steps down, Qatar said that increasing its stake was evidence of its support for the company and its strategy.

Qatar previously held 21.4% of IAG, which also owns Spanish carriers Iberia and Vueling and Ireland’s Aer Lingus. IAG’s share price has risen by 52% in the last six months.

The state-owned Qatar Airways, one of the Middle East’s biggest, has said its investments in other carriers were mostly for financial purposes.