Qatar Airways to Take Stake in Latam
Qatar Airways said Tuesday it plans to acquire shares in Latam Airlines Group. The announcement was made at a press briefing at the Farnborough Airshow.
The Doha-based carrier said it would purchase up to a 10% stake in Chile-based Latam, which will issue new stock at $10 a share to facilitate the deal.
Qatar already owns 15% in British Airways parent IAG, which is in the midst of forming a partnership with the Chilean carrier.
“Latam represents an exciting opportunity,” said Qatar’s chief executive officer, Akbar Al Baker, at the briefing.
Latam was formed by the 2012 merger of Chile-based Lan and Brazil-based Tam airlines.
(Photo: Accura Media Group)