Qatar Airways becomes shareholder of LATAM Airlines Group

Qatar Airways logoLATIN AMERICA/QATAR. LATAM Airlines Group and Qatar Airways, both members of the oneworld alliance, today announced that they have entered into a subscription agreement.

The deal will enable Qatar Airways to acquire up to 10% of LATAM’s total shares, which will be obtained through a capital increase.

LATAM proposes to increase its capital by US$613 million through the issue of new US$10 shares. An Extraordinary Shareholders Meeting will be held before 2 September to announce the proposal.

The announcement was made at the Farnborough International Air Show in England by Qatar Airways Group Chief Executive Mr. Akbar Al Baker and LATAM Airlines Group CEO Mr. Enrique Cueto. The companies expect the transaction to be completed within the fourth quarter of 2016.

Latam Airlines logo“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 Mr. Akbar Al Baker.

Enrique Cueto added: “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.”

 

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