The Qatari airline is continuing its investment strategy while strengthening its links with the member airlines of the oneworld alliance. After acquiring a 10% stake in IAG, the parent company of British Airways, Iberia, Vueling and Aer Lingus, Qatar Airways intends to acquire up to 10% of LATAM Airlines, the South American giant created by the merger of the Chilean company LAN and the Brazilian company TAM. The deal, announced at the Farnborough Airshow by Qatar Airways CEO Akbar Al Baker and LATAM Airlines CEO Enrique Cueto, will take the form of a US$613 million capital increase. The transaction is expected to close in the fourth quarter of this year.
"As a leading airline in South America and a key member of oneworld, this project could provide future opportunities for the development of Qatar Airways' global network, alongside our successful investments in IAG".said Akbar Al Baker. For his part, Enrique Cueto, CEO of LATAM Airlines, believes that "As well as strengthening our financial position, this project allows us to envisage new opportunities for agreements and connectivity with Asia and the Middle East, as well as in other possible areas of cooperation."
