By Daniel Hunter
Qatar Airways has bought a 10% stake in IAG, the owner of British Airways, in the latest UK investment made by the Qatari government.
Qatar Airways is owned by the state, which has become a significant investor in the UK in recent years. Qatar's investment fund owns Harrods and The Shard, and holds stakes in Barclays, Sainsbury's and Heathrow Airport.
Willie Walsh, IAG chief executive, 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”.
Akbar Al-Baker, Qatar Airways boss, who also sits on the board of Heathrow, said: “IAG represents an excellent opportunity to further develop our westwards strategy. Having joined the oneworld alliance it makes sense for us to work more closely together in the near term and we look forward to forging a long term relationship”.
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