June 23, 2017 (LBO) – Qatar Airways, an airline faced with a middle-eastern diplomatic row, is looking at a stake in American Airlines, the airline said in a statement.
“Qatar Airways sees a strong investment opportunity in American Airlines,” it said.
“Qatar Airways believes in American Airlines’ fundamentals and intends to build a passive position in the company with no involvement in management, operations or governance.”
The airline says that it has long considered American Airlines to be a good oneworld Alliance partner and looks forward to continuing this relationship.
It plans to make an initial investment of up to 4.75 percent.
“Qatar Airways will not exceed 4.75 percent without prior consent of the American Airlines board. Qatar Airways will make all necessary regulatory filings at the appropriate time,” the statement adds.
Qatar Airways is the national carrier of the State of Qatar and has more than 150 business and leisure destinations with a fleet of 200 aircraft.
The Qatar Airways intention of investment was also announced by American Airlines in a securities filing Thursday saying the Qatari company planned to buy at least 808 million dollars in American shares, a foreign media report said.