Qatar Airways said it’s open to taking stakes in airlines that require investment to realise their full potential.
While Qatar Airways owns 10% of British Airways parent IAG SA and views other “ultra-profitable airlines” as candidates for partnerships, that doesn’t rule out deals with smaller operators, chief commercial officer Hugh Dunleavy said in an interview on Wednesday in the UAE.
“If there are other airlines where you would need to make more of an investment to get into a stage where it drives value, we would look at that,” he said in Ras Al-Khaimah, where Qatar Airways was commencing flights.
Dunleavy declined to say if talks are underway with Meridiana, as reported in the Italian press. Unprofitable Meridiana, based in Olbia, Sardinia and owned by the Aga Khan, said on Tuesday that following a state-sponsored restructuring it had held discussions with ministers in Rome about “perspectives” for its future that include industrial partnerships.
Qatar Airways has previously been linked with Royal Air Maroc, India’s SpiceJet and more recently SriLankan Airlines, though has so far invested only in IAG after BA sponsored its application to join the Oneworld alliance. A Meridiana deal would prompt comparisons with Gulf rival Etihad Airways, which has bought stakes in struggling airlines including Italian No 1 Alitalia.
Meridiana’s 20-strong fleet is ripe for upgrade, featuring McDonnell Douglas MD-80s and first-generation Boeing Co 737s, according to its website. The carrier connects Sardinia and Sicily with Italy’s main airports and has routes to Egypt, Greece, the Canaries and a handful of long-haul destinations. It had a loss of €155mn ($171mn) in 2013, when it last posted numbers.