Thursday, 22 June 2017

Qatar wants 10% of American Airlines

American Airlines has received an "unsolicited" approach from Qatar Airways which wants to acquire 10% of the US carrier.

In a regulatory filing, American Airlines said Qatar intended to buy at least $808m (£638m) of its shares.

American Airlines said it would respond "in due course".

Shares in American Airlines, which is the biggest airline in the world, initially rose 5% but fell back to a 1.2% rise by afternoon trading.

Qatar Airways said it sees American as a good investment opportunity and would not involve itself in management, operations or governance.
"Qatar Airways believes in American Airlines' fundamentals," the firm said.

In 2015, Qatar Airways took a 10% stake in International Airlines Group (IAG), the owner of British Airways and Iberia.

Then in July 2015 it increased its stake to 20%, becoming IAG's biggest shareholder.

BBC          News.

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