Qatar Airways will acquire 25% stake in South Africa’s Airlink as part of its plan to further expand its network route in Africa.
Qatar Airways’ Group Chief Executive Al Meer announced the plan to acquire the 25% stake in a press conference earlier today. According to him, the stake in Airlink aligns Qatar Airways business strategy in Africa.
Speaking further, Al Meer noted that Airlink’s extensive coverage in Southern Africa makes the 25% stake acquisition a strategic move at this point.
Airlink is a privately owned airline operating in Southern Africa with more than 45 destinations within the region. The acquisition of its 25% stake is part of Qatar Airways’ Africa growth strategy. This strategy began in 2019 when Qatar Airways secured a 60% stake in a new multi-billion-dollar international airport being built in Rwanda (near Kigali), alongside signing of agreements with several airlines in Africa, including Rwandair.
Qatar Airways already owns minority stakes in British Airways parent company International Airlines Group. In addition to this, it has minority shareholdings in Latam Airlines, Hong Kong’s Cathay Pacific Airways, and China Southern Airlines.
Qatar Airways move to acquire 25% stake in Airlink will add to its portfolio in Africa and expand the coverage of the Airline across Southern Africa. Also, the acquisition will help Airlink to expand to new markets in East and West Africa and improve its route coverage in the region.
Although, the value of the acquisition was not stated in figures, it is considered a major stride in Africa’s aviation industry. As things stand, an agreement has been reached between both parties to ensure a smooth acquisition.
