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.