DOHA: Qatar Airways said on Wednesday it continues to hold “absolute confidence” in British Airways-owner International Airlines Group (IAG) and that it is not seeking a board seat.
The airline said on August 1 it had increased its stake in IAG to 20.01 per cent from 15.67 per cent, making it the group’s largest sole investor.
“We have absolute confidence. We wouldn’t have increased our shareholding to 20.01 per cent if we had the slightest question mark about their capabilities and their ability to run this group very efficiently,” group chief executive, Akbar Al Baker, told reporters in Doha.
Qatar Airways has also agreed to acquire up to 10 per cent of Latin America’s biggest airline Latam, and to take a 49 per cent stake in Italy’s second biggest carrier Meridiana.
“We want to have partnerships in all major markets,” Al Baker said on Wednesday. “IAG is giving us this relationship in Europe and of course through their JVs [joint ventures] across the Atlantic. Latam will give us access to another very large market in South America.”
Qatar Airways is “in the process of doing all the restructuring and paperwork with Meridiana” and will soon “look at West and East for other investments,” Al Baker said. He did not provide further details but the airline has said it is interested in acquiring a stake in an Indian airline and in Africa’s Royal Air Maroc.
On Wednesday, Al Baker said Qatar Airways wants deeper relationship with fellow oneworld alliance member American Airlines that would allow greater connectivity for passengers.
American Airlines, along with US carriers Delta and United, has led a failed campaign to restrict Qatar Airways and fellow Gulf carriers Emirates and Etihad Airways in the US over claims of unfair state subsidies. The Gulf carriers have consistently denied the allegations.
