Qatar Airways to acquire shares of Italy’s airline

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Qatar Airways has announced that it will buy 49% shares of Meridiana fly. According to a press release, Qatar Airways has signed a contribution and shareholders agreement with Alisarda, the parent company of Italy’s Meridiana. The agreement is subject to the fulfilment of certain conditions, before the closing which is planned for early October.

Meridiana is the second largest carrier in Italy, with an extensive national and European network, which connects the main Italian airports with Sardinia and provides connectivity with hubs in Europe as well as in the US and Africa. Meridiana’s fleet consists of Boeing 737s, 767s and MD-82s.

Qatar Airways continues to expand its business opportunities around the world, increasing travel options for our passengers while also enhancing our investment portfolio, Mr Akbar Al Baker, Qatar Airways Group Chief Executive, said while commenting on the agreement.

“This agreement sets the path to progress our work towards a strong resolution that benefits both the staff and passengers who travel with Meridiana fly.”

The announcement follows a successful and busy week at the Farnborough International Airshow, where Qatar Airways also disclosed that it is to acquire up to 10 percent of LATAM Airline Group’s shares through a capital increase.

At the Airshow, Qatar Airways also announced the purchase of three additional G650ER aircraft from Gulfstream Aerospace, while winning three Skytrax World Airline Awards, including the World’s Best Business Class.

Qatar Airways, the national carrier of the State of Qatar, is one of the fastest growing airlines operating one of the youngest fleets in the world. Now in its 19th year of operations, Qatar Airways has a modern fleet of 188 aircraft flying to more than 150 business and leisure destinations across six continents.

 Agreement with LATAM Airline

Meanwhile, Qatar Airways has announced that it has signed an agreement with LATAM Airlines to acquire 10% shares of Latin America’s leading airline group.

Italys-airline

Both LATAM Airlines Group S.A. and Qatar Airways are members of the oneworld alliance.

LATAM Airlines Group will hold an Extraordinary Shareholders Meeting not later than September 2, 2016, to propose a capital increase of US$613 million through the issuance of new shares at a price of US$10 per share.

The agreement was announced at the Farnborough International Air Show in England by Mr Akbar Al Baker and Mr Enrique Cueto, CEO of LATAM Airlines Group.

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

“We are proud to announce Qatar Airways as a new shareholder of LATAM, reaffirming our bond as existing members of the one world alliance. This investment recognizes LATAM’s achievements and supports our project for the future. In addition to strengthening our financial position, it will allow us to explore new opportunities for connectivity with Asia and the Middle East, as well as other potential areas of cooperation,” said Mr Enrique Cueto.

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