{"id":82313,"date":"2024-11-12T00:00:00","date_gmt":"2024-11-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/12\/qatar-airways-to-participate-in-iag-buyback-scheme\/"},"modified":"2024-11-12T00:00:00","modified_gmt":"2024-11-12T00:00:00","slug":"qatar-airways-to-participate-in-iag-buyback-scheme","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/12\/qatar-airways-to-participate-in-iag-buyback-scheme\/","title":{"rendered":"Qatar Airways to participate in IAG buyback scheme"},"content":{"rendered":"

<\/strong>Qatar Airways to participate in IAG buyback scheme:<\/strong> Qatar Airways is selling EUR 88 mn in shares as part of a share buyback program launched by British Airways owner International Consolidated Airlines Group (IAG), with the aim of retaining its 25.1% stake, according to a London Stock Exchange statement<\/a> published last week. The buyback program will also include EUR 262 mn in share purchases from the market. The program kicked off on 11 November and will end no later than 28 February 2025. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

The details: <\/strong>The carrier entered into agreements with Goldman Sachs and Morgan Stanley, under which it will sell them its IAG shares, instead of selling them in the market. The shares will be sold during each trading day during the program \u2014 proportionate to the shares acquired by the banks on the open market \u2014 at a price share equal to the volume weighted average price the banks purchase. <\/p>\n

SOUND SMART- What is a share buyback program? <\/strong>A share buyback is when firms buy back their own shares from the market<\/a> and cancel them, therefore reducing share capital. The fewer shares in circulation mean that each shareholder in turn gets a larger stake in the firm and a higher return on future dividends. <\/p>\n

Background: <\/strong>Qatar Airways acquired a stake for USD 600 mn in IAG back in 2020, increasing its holding to 25.1%, Reuters<\/a> previously reported. The Qatari firm previously held a 21.4% stake in IAG \u2014 which owns Spanish carriers Iberia and Vueling and Ireland's Aer Lingus. Qatar Airways first invested in IAG in 2015 \u2014 buying 9.99% of the firm. <\/p>\n

REMEMBER- <\/strong>Spain\u2019s Iberia joined Qatar Airways and British Airways\u2019 airline joint business back in July 2023<\/a>. Qatar Airways and British Airways currently operate the world\u2019s largest airline joint business, encompassing over 60 countries. <\/p>\n","protected":false},"excerpt":{"rendered":"

Qatar Airways will be selling EUR 88 mn in shares to Goldman Sachs and Morgan Stanley to retain its stake in IAG<\/p>\n","protected":false},"author":1,"featured_media":82314,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[177],"tags":[145,153,247],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aviation","tag-aviation","tag-qatar","tag-qatar-airways","wpautop","entry"],"acf":{"mongo_id":"3ee46237-b4e2-42f5-a8e3-ab1a33e8b899","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/279.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Qatar Airways to participate in IAG buyback scheme","related_issue":[82305],"teaser":"Qatar Airways will be selling EUR 88 mn in shares to Goldman Sachs and Morgan Stanley to retain its stake in IAG","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.91d8b0a6-090e-4dcd-84a8-46ed58b550bf.mp3"},"yoast_head":"\nQatar Airways to participate in IAG buyback scheme - 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