LONDON/DUBAI — Qatar Airways has bought a $600 million stake in British Airways-owner IAG to increase its holding to 25.1%, strengthening its position ahead of a change in IAG management. In an endorsement of the Anglo-Spanish group just weeks before its founder Willie Walsh steps down, Qatar said on Wednesday the move showed its support for IAG and its strategy. Qatar previously held 21.4% of IAG, which also owns Spanish carriers Iberia and Vueling and Ireland's Aer Lingus. IAG's share price has risen by 52% in the last six months. Qatar increased its holding after IAG lifted restrictions on investments from outside the European Union last month.

Source: International New York Times February 19, 2020 07:47 UTC