IAG interested in JAL stake

British Airways owner, International Airlines Group (IAG) could be looking to purchase a stake in Japan Airlines with the Group’s head saying it was something the company had “interest in”.

Speaking at the World Travel and Tourism Conference in Tokyo, IAG chief executive Willie Walsh said the airline could be looking to purchase no more than ten percent stake in JAL and explained the purchase was a way to cement a relationship, The Mail reported.

He added that while it was something the airline was interested in moving forward with, no formal contact had been made regarding the issue.

“It really is about showing support and commitment to the joint ventures that we have – it shouldn’t be read as a precursor to a takeover,” he explained regarding purchasing stake in airlines.

“It cements the relationship and the alliance structure a bit more, and what we are seeing now is the alliances have gone through a period of instability post- 2001 as everybody focused on their own viability.

“I think it’s the next step in cementing the alliance in a more permanent way.”
Source = e-Travel Blackboard: N.J
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