Scottish insurer Standard Life has disposed of a 1.4% stake in IAG International Airlines Group Spain's Expansion newspaper has reported. The sale marks the firm's continued divestment from the European airline conglomerate. In 2014, its shareholding in IAG exceeded 6%. However, this has since declined to 5.8% and then to 4.96% in March this year and now to 3.53%.

Qatar Airways (QR, Doha Hamad International) is IAG's largest shareholder with a 20% stake. Then follows Capital Research with 10% and Lansdowne with almost 7%. Standard Life now stands sixth behind Deutsche Bank and BlackRock.

IAG is the parent firm of British Airways, Aer Lingus, Iberia, Vueling Airlines, and lately, LEVEL.