Qatar Airways plans to take an initial investment of “up to 4.75%” in the US carrier, which it said would not be increased “without prior consent of the American Airlines board”.
In a statement, it said: “Qatar Airways sees a strong investment opportunity in American Airlines. 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.”
Qatar Airways already has a 20% stake in IAG, the parent company of British Airways, which has a joint venture with American Airlines on transatlantic routes.
The latest development could complicate the ongoing dispute between the major US airlines and the Gulf carriers. The US government is being urged by its big airlines to bar Qatar Airways, Emirates and Etihad from expanding their US routes, claiming the airlines receive huge government subsidies.
Currently, the US operates an open skies agreement with Qatar and the United Arab Emirates, but President Trump is being urged to scrap this under his America First programme.
