Qatar Airways increases its stake in International Airlines Group

Qatar Airways said last week it now holds a 20.01 percent share of London-based International Airlines Group (IAG).

The move follows a July 12 announcement by Qatar Airways that it was considering increasing its stake in IAG, then at 15.67 percent.

"The recent market valuation of one of the world's leading airline groups has provided what we believe is an attractive opportunity to increase our shareholding in IAG," Akbar Al Baker, group chief executive of Qatar Airways, said. "We continue to be highly supportive of IAG's strategy and management team and we do not intend to increase our percentage shareholding further unless there are material changes to the current situation."

Non-EU shareholders of IAG, such as Qatar Airways, are subject to a cap on the percentage of the company they may own.