10113
Qatar Airways Buys 9.99% Stake in IAG
World Economy

Qatar Airways Buys 9.99% Stake in IAG

The Doha-based airline Qatar Airways has bought a 9.99% stake in International Airlines Group (IAG). This comes just days after the group made a third bid for Aer Lingus.
Both IAG and Qatar Airways have a close relationship already as part of the Oneworld Alliance, and IAG says it welcomes Qatar Airways’ statement that it would look to strengthen existing commercial ties, Newstalk reported.
Commenting on the share acquisition, IAG chief executive Willie Walsh said: “We’re delighted to have Qatar Airways, one of the world’s premier airlines, as a long term supportive shareholder.”
“We will talk to them about what opportunities exist to work more closely together and further IAG’s ambitions as the leading global airline group”.
Qatar Airways has said it may consider increasing its stake further over time.
Aer Lingus confirmed earlier this week that it had received the revised takeover bid from IAG, which valued each Aer Lingus share at €2.55 - or €1.3b ($1.48b) overall. The government is to seek a meeting with IAG in relation to its bid.
The Taoiseach Enda Kenny has said no decision has been made about the future of Aer Lingus. But unions have claimed that up to 1,200 jobs could be lost if the airline is sold to IAG.
The IMPACT trade union has warned the Oireachtas Transport Committee that IAG has a history of cutting jobs after takeovers.
The committee held an emergency meeting Thursday to discuss the potential impact of the airline being sold.

Short URL : http://goo.gl/kTOjZT

You can also read ...

Indonesia’s interest rate rise highlights need for urgent defensive action.
Argentina's return to financial chaos might seem remote to...
Pakistan Retains Stable Rating
Moody’s Investors Service said that Pakistan’s (B3 stable)...
Real growth of the oil sector was  14.77% year-on-year in Q1.
Nigeria’s economy expanded for a fourth straight quarter in...
Goldman Says US in Dire Straits
Goldman Sachs’ analysts delivered a weekend note on the United...
Investments by state enterprise rose 11.5% from a year earlier.
Thailand produced its fastest economic growth in five years in...
Taiwan Economic Sentiment Weakens
Sentiment toward Taiwan’s economy weakened in May after the...
Chan Chun Sing (L) and CEO of the Singapore Business Federation Ho Meng Kit,  at The Business Times Leaders Forum on Monday.
With the rise in unilateralism and protectionism, the...
Copper Edges Up
Copper edged higher on Monday after China and the United...

Trending

Googleplus