Qatar Airways said on Tuesday it had raised its stake in the British Airways-owner, International Consolidated Airlines Group (IAG), to 15.01 per cent and said it may consider acquiring more of the firm over time.

In April, the firm's CEO said it had increased its stake to under 12 per cent from 9.99 per cent.

"We have been very happy with our investment in IAG, from a financial, commercial and strategic perspective," chief executive Akbar al-Baker said in a statement. "The relationship formed has helped to deliver on our westbound strategy."

Under current rules, foreign investors cannot own more than 49 per cent of a European airline.-Reuters