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News Worms


Qatar Airways cancels plan to invest billions of dollars in American Airlines

Qatar Airways cancels plan to invest billions of dollars in American Airlines

American Airlines (AAL) on Wednesday acknowledged Qatar Airways' announcement that it would drop a bid to purchase a minority stake in the US carrier, weeks after company CEO Doug Parker called the proposed investment "puzzling".

Qatar Airways has chosen not to proceed with its proposed investment in American Airlines (AAL), according to multiple reports.

This move has come as Qatar Airways plans to expand its South American route network and connectivity for its passengers.

American Airline's had no immediate comment. But on Wednesday, Qatar said it changed its mind after a review of the deal's finances and American's reaction.

American chairman and CEO Doug Parker called the potential investment "puzzling, at best, and concerning, at worst" in a letter to employees.

Parker vowed that despite the prospect of Qatar becoming a large shareholder, American would continue to fight Qatar, Emirates and Etihad Airways over the allegations of unfair government subsidies.

The Middle Eastern carrier had proposed to take a ten per cent stake in the oneworld airline. That has forced Qatar Airways to reroute flights, adding time and costs.

US airlines have accused Qatar, Emirates and Etihad Airways of receiving billions of dollars in unfair subsidies from their governments, with the USA carriers lobbying the Trump administration to intervene.

On Wednesday, American spokesman Matt Miller said Qatar's decision not to invest "in no way changes the course for American". In announcing its reversal, Qatar Airways said it would look for other investment opportunities in the United States. "We couldn't be more excited to keep our focus on that mission".

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