American Airlines Says Qatar Airways Seeks to Acquire 10% Stake

Qatar Airways told American it would undertake purchases of American common stock with an eye toward a 10 percent stake, the filing said, worth about $808 million. Today American Airlines said it received an unsolicited notice from Qatar Airways of its intention to make a "noteworthy investment".

The U.S. carriers say those subsidies have allowed the Gulf airlines to rapidly expand in the U.S., giving them an unfair advantage and hurting jobs.

The Fort Worth, Texas-based airline said it believes the USA government will continue to defend against "massive carrier subsidies that threaten the United States aviation industry and that threaten American jobs".

American's bylaws require board approval to stakes of 4.75 per cent or more.

Per the US' foreign ownership laws, Qatar Airways would ultimately be capped at owning 24.9% of any airline in the country.

American Airlines has received a notice that Qatar Airways plans to acquire a 10% stake in the USA legacy carrier, in what appears to be an unsought investment.

South African Airways (SAA) has been crowned as one of the winners at the World Airline Awards for 15 consecutive years. His fast-growing company has bought its way into other airlines, including the parent of British Airways, a close partner of American.

Belmont Stakes 2017 Live Results, Analysis and Highlights From New York
Irish War Cry inherited the role of favorite after Classic Empire was forced out earlier in the week with an abscess in his hoof. Pletcher's record in the final leg of the Triple Crown gains added luster when his five second-place finishes are considered.

However, the coveted first place went to Qatar Airways, which was earlier placed second in 2016.

American, along with other major domestic players, has accused Qatar and other Gulf airlines of violating air treaties, called Open Skies agreements, by fueling their growth with huge subsidies from their government backers. This time, it appears, he has also surprised American Airlines.

American and Qatar are already members of the oneworld alliance of global airlines, which lets passengers earn and redeem points on each other's flights.

In a conversation between the chief executives of the two companies, Qatar indicated that it has an interest in acquiring approximately a 10 per cent stake, American Airlines said. It owns just over 20 percent of IAG, which also controls European carriers Aer Lingus, Iberia and Vueling.

However, in defiance of the blockade and its implications, Qatar Airways is still forging ahead with its ambitious plans for growth.

According to CNBC, Qatar intends to then acquire at least a 10 percent stake.

In a statement, Qatar Airways described American as a "strong investment opportunity".

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