Qatar Airways seeks 10% interest in American Airlines
The pierce comes as Qatar faces dispute with adjacent countries over Doha’s purported support for belligerent groups. PHOTO: REUTERS
NEW YORK CITY: Qatar Airways has told American Airlines it wants to buy about a 10 percent interest in a US carrier, that reliable a pierce Thursday in a bonds filing.
Qatar Airways disclosed that it designed to buy during slightest $808 million in shares, and Qatar Airways’ arch executive told his reflection during American that a conduit sought a interest of about 10 percent, American Airlines said.
“The due investment by Qatar Airways was not solicited by American Airlines and would in no approach change a Company’s Board composition, governance, supervision or vital direction,” American pronounced in a filing.
The pierce comes as Qatar faces dispute with adjacent countries after Saudi Arabia, Bahrain and a United Arab Emirates severed ties over Doha’s purported support for belligerent groups and Iran. The countries have dangling all flights to and from Qatar.
Qatar Airways says use ‘unaffected’ by Gulf ban
Qatar’s supervision denies all a allegations.
American, for a part, also has had a differences with Qatar Airways, among other Middle Eastern carriers, over state subsidies a US atmosphere transport attention believes violate trade agreements.
The Qatar interest in American “does not change American Airlines’ self-assurance on a need to make a Open Skies agreements with a United Arab Emirates and a republic of Qatar and safeguard satisfactory foe with Gulf carriers, including Qatar Airways,” American pronounced in a filing.
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“American Airlines continues to trust that a President and his administration will mount adult to unfamiliar governments to finish large conduit subsidies that bluster a US aviation attention and that bluster American jobs.”
Shares of American shot adult 5.2 percent in pre-market trade to $50.90.
Article source: https://tribune.com.pk/story/1442158/qatar-airways-seeks-10-stake-american-airlines/