LATAM Airlines Group S.A. and Qatar Airways have announced that Qatar Airways, through its wholly owned subsidiary Qatar Airways Investments (UK) Ltd (“Qatar”), has completed its acquisition of 10% of LATAM reaching a total of 60,837,452 shares.
The preemptive rights offering of 61,316,424 new shares, at a price per share of US$10, ended on December 23, 2016, in which Qatar subscribed shares of LATAM through its wholly-owned subsidiary Qatar Airways Investments (UK) Ltd., in its capacity as assignee of the preemptive right assigned by the shareholders of the Cueto, Amaro, Eblen and Bethia Groups to Qatar, as agreed between LATAM and Qatar, and other minority shareholders subscribed 12,140 shares of LATAM. Later, on December 28, 2016, Qatar subscribed 30,349,907 shares not subscribed by the shareholders during the preemptive rights period.
Qatar Airways, the national carrier of the State of Qatar, is one of the fastest growing airlines operating one of the youngest fleets in the world. Now in its 19th year of operations, Qatar Airways has a modern fleet of 192 aircraft flying to more than 150 key business and leisure destinations across six continents.
LATAM Airlines Group is the new name given to LAN Airlines as a result of its association with TAM.
As the year draws to an end, Qatar Airways is celebrating a successful year of continued growth achieved in 2016 through strategic network, fleet and partnership expansions.
At a time when a number of airlines are downsizing, Qatar Airways continued to see strong growth and inaugurated 14 new destinations across its global network and welcomed 19 new aircraft to its fleet, taking the count to 192, as well as placing a record aircraft order to power future growth. Qatar Airways has made a number of strategic investments in other airlines and airline groups, while investing heavily in the continued evolution of its own passenger experience. The airline also celebrated its strong financial performance, having finished the 2016 fiscal year with an operating profit of more than QAR 3 billion – the best yet for the Qatar Airways Group.
Qatar Airways Group Chief Executive, His Excellency, Mr. Akbar Al Baker, said: “I am extremely proud of the success that Qatar Airways has achieved together with our employees and partners in 2016. I’d like to extend my sincere gratitude to all staff for their discipline and tireless pursuit for excellence. I’d also like to extend my gratitude to our loyal passengers for their continued support. Our passengers will see a continuation of our commitment to providing the very best travel experiences in the year to come. This past year has truly been an exceptional year and, and as we turn to 2017 to celebrate Qatar Airways 20th Anniversary, I look forward to celebrating future successes with our employees, partners and passengers in the years to come as we go places together.”