Qatar Airways has said it plans to acquire a 33 per cent stake in European air cargo company, Cargolux, Europe's largest all-cargo airline and expects to sign a deal in the next few weeks.
The airline's CEO told reporters here on Monday that the move is a strategic investment for the State-owned carrier.
The airline already operates 25 777s.
In March, the airline said it would hire 11,500 new staff over the next three years to keep pace with an expansion plan that will see it serve 120 destinations by 2013.
CEO Mr Akbar Al Baker said, “We see there are synergies. Qatar Airways would like to expand and I always said we would only be interested if they (the company) are healthy and well-established.”
“We would not invest in an airline,” he said. “No matter how attractive, if it will take my management time and resources to cure a sick individual, we don't want to do that.”
Qatar Airways last month signed a $1.3 billion contract with US planemaker Boeing to buy five Boeing 777 planes to add to its existing 97-plane fleet.