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Qatar Airways to buy 10% stake in LATAM – Bangalore Aviation

Qatar Airways to buy 10% stake in LATAM

July 12, 2016 Comments Off on Qatar Airways to buy 10% stake in LATAM 366 Views

Qatar Airways has announced on the second day of the Farnborough airshow that it will acquire a 10% stake in LATAM airlines group.

The airline will invest $618 million in the Latin carrier, according to Qatar chief executive His Excellency Akbar Al Bakar. He further said this investment is further proof of the airline’s commitment to oneWorld.

LATAM is the second oneworld airline group Qatar has invested in after British Airways holding company the International Airlines Group (IAG).

Qatar chief executive Akbar Al Bakar and LATAM CEO Enrique Cueto after announcing the investment.
Qatar chief executive Akbar Al Bakar and LATAM CEO Enrique Cueto after announcing the investment.

The deal is still subject to an extraordinary share holders meeting that will be held before the 2nd of September.

Qatar Airways is also in talks with Italian carrier Meridiana about an investment. But Mr. Al Baker expressed concerns that talks with the airline’s management and employee unions had reached an impasse. He indicated that, Qatar Airways may have to walk away from the investment, if their fears are not properly addressed by both the airline and the government.

About Vedant Agarwal

A frequent flyer for both work and pleasure - Vedant has held elite status on many of the major alliances and airlines. Also an avid aviation photographer, his pictures have been published in and on the covers of many international publications.

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