Qatar Airways is take an up to 10 per cent stake in LATAM Airlines, the group’s chief executive Akbar Al Baker announced at the Farnborough International Airshow today.
He says the two carriers have entered into a ‘subscription agreement’ and it will invest $613 million in the Latin American airline.
Al Baker explains it is making the investment as it enhances the Qatari carter’s network and reach.
LATAM and Qatar Airways expect to complete the deal in the fourth quarter of this year.
Both airlines are oneworld alliance members and Qatar Airways already has a 15.01 per cent stake in the International Airlines Group (IAG).