São Paulo – Qatar Airways is willing to double its stake in LATAM to 20%, its CEO Akbar Al-Baker (pictured) told Reuters. The Qatari carrier currently owns 10% in the Chilean-based LATAM, which is the outcome of a merger of Chile’s LAN and Brazil’s TAM.
Qatar Airways secured its 10% stake in LATAM in a USD 613 million deal during the latter’s late 2016 capital raise, on which occasion LATAM described the move as a chance to build a long-term relationship and explore new opportunities and connectivity in Asia and the Middle East.
Founded 1997, Qatar Airways flies to over 160 destinations worldwide, including direct flights to Brazil. LATAM is currently the biggest airline in Latin America, in fleet size and passenger numbers. Late 2019 saw the US’s Delta Airlines acquire a 20% stake in LATAM.
Translated by Gabriel Pomerancblum
