Qatar Airways has today announced its intention to buy 10 per cent of LATAM.
The airlines are both members of the Oneworld Alliance,
The announcement was made at the Farnborough International Air Show in England, by both airlines’ CEOs.
“LATAM represents an exciting opportunity to invest and support the development of our long-term relationship. As a leading airline in Latin America, and key member of oneworld, this investment provides potential opportunities for Qatar Airways’ global network, alongside our successful investment in IAG,” said His Excellency Mr. Akbar Al Baker, Group Chief Executive of Qatar Airways.
“We are proud to announce Qatar Airways as a new shareholder of LATAM, reaffirming our bond as existing members of the oneworld alliance. This investment recognises 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, CEO of LATAM Airlines Group.
The companies expect the transaction to be completed within the fourth quarter of 2016.