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Qatar Airways finalizes stake in LATAM
TIN news: LATAM Airlines Group and Qatar Airways have completed their transaction in which the Middle East airline has taken a 10% stake in the Latin America group.
The deal, which sees Qatar Airways invest some $600 million through a capital increase in LATAM, was completed Dec. 28, LATAM announced. Both airlines are members of the oneworld global alliance.
“The entrance of Qatar Airways as a shareholder of LATAM represents a unique opportunity to develop a long-term relationship and explore new opportunities for connectivity with Asia and the Middle East,” LATAM said.
The transaction was granted Brazilian regulatory approval in November. But LATAM is still waiting for approval of a transatlantic immunized joint venture with British Airways and Iberia. Both European carriers are part of the IAG Group and are also oneworld members. Qatar Airways also has a 20% stake in IAG.
The deal, which sees Qatar Airways invest some $600 million through a capital increase in LATAM, was completed Dec. 28, LATAM announced. Both airlines are members of the oneworld global alliance.
“The entrance of Qatar Airways as a shareholder of LATAM represents a unique opportunity to develop a long-term relationship and explore new opportunities for connectivity with Asia and the Middle East,” LATAM said.
The transaction was granted Brazilian regulatory approval in November. But LATAM is still waiting for approval of a transatlantic immunized joint venture with British Airways and Iberia. Both European carriers are part of the IAG Group and are also oneworld members. Qatar Airways also has a 20% stake in IAG.