Qatar Airways wants to have up to 10% of the Latam

Farnborough-Qatar Airways today announced that it plans to take a slice of up to 10% on Latam Airlines, as part of its initiative to expand investments in other airlines.
The Chief Executive of Qatar Airways, Akbar Al Baker, said the company will invest $ 618,000,000 in Latam, which was created in 2010 from the merger of brazilian TAM with Chile''s LAN. Latam has been facing problems of weak passenger demand.
Al Baker said "recognize challenges short-term localized", but showed confidence in the long-term perspective of Latam.
Under the agreement, will also make an offer for Latam stock exchange of Chile, which will be signed by Qatar Airways.
Qatar Airways is a partner of Latam on oneworld alliance and is also the largest shareholder in the parent company of British Airways, International Consolidated Airlines Group.
Latam''s shareholders still need to approve the deal in an extraordinary meeting, which will take place before 2 September.
"We believe this investment will allow us to explore new possibility to connect South America to the Middle East and Asia and strengthen our financial position," said the Chief Executive of Latam, Enrique Cueto. Dow Jones Newswires.