On 12 July 2016, Qatar Airways and LATAM Airlines Group have reached an agreement. As a result of this partnership, Qatar Airways takes over 10% of LATAM Airlines Group by raising capital.
Qatar Airways, NO ONE% of LATAM Airlines Group
Latam Airlines Group will hold an Extraordinary General Meeting by September 2 2016 and a capital increase of $ 613 million is proposed. New shares will be issued at a price of $ 10 per share.
The directors of the two airlines, members of oneworld, made this announcement at the Farnborough International Air Show 2016. The agreement was signed by Akbar Al Baker, Group Chief Executive of Qatar Airways and Enrique Cueto, CEO of LATAM Airlines Group. This agreement is expected to be finalized in Q4 2016.