Qatar Airways has increased its stake in International Airlines Group to 20.01%.

“The recent market valuation of one of the world’s leading airline groups has provided what we believe is an attractive opportunity to increase our shareholding in IAG,” said Akbar Al Baker, chief executive of the Qatar Airways Group. “We continue to be highly supportive of IAG’s strategy and management team and we do not intend to increase our percentage shareholding further unless there are material changes to the current situation.”

The airline had indicated in July 2016 that it might consider increasing its 15.67% share within the permitted limits.

Airlines of the European Union are allowed a maximum non-EU ownership level of 49%.