Qatar To Buy Into Latam

Qatar Airways (Chalet C24) will take up to a 10 percent stake in Latam Airlines Group in a deal the OneWorld Alliance partners agreed to at the show Tuesday. Under terms of the subscription agreement, Latam will hold an extraordinary shareholders meeting no later than September 2 to propose a capital increase of $613 million through the issuance of new shares at a price of $10 a share.

The deal accounts for Qatar’s second investment in OneWorld partners. It holds a 15 percent share in British Airways parent International Consolidated Airlines Group (IAG).

“Latam represents an exciting opportunity to invest and support the development of our long-term relationship,” said Qatar Airways CEO Akbar Al Baker. “As a leading airline in Latin America and a key member of OneWorld, this investment provides potential opportunities for Qatar Airways’ global network, alongside our successful investment in IAG.”