Qatar Airways takes 9.99% stake in BA-owner IAG

Qatar Airways said on Friday it had bought a 9.99 percent stake in International Airlines Group, the owner of its partners British Airways and Iberia in the oneworld alliance.

Qatar's national airline said it would look to strengthen commercial ties with the European group, and may consider increasing its stake over time, although it was not currently intending to exceed 9.99 percent.

"IAG represents an excellent opportunity to further develop our Westwards strategy," said Qatar Airways Chief Executive Akbar Al Baker.

IAG Chief Executive Willie Walsh welcomed the move.