Qatar Airways wants to buy stake in American Airlines

Qatar Airways wants to buy a stake in American Airlines, the company said in a statement on Thursday.

The company said it sees "a strong investment opportunity" in American Airlines, but stated that it will not get involved in American Airlines' management, operations or governance.

"Qatar Airways plans to make an initial investment of up to 4.75 percent," the firm said.

It added that its purchase of shares will not exceed the amount of 4.75 percent without the prior consent of the American Airlines board of directors.

Several U.S. media outlets, however, said that Qatar Airways wants to buy as much as 10 percent in American Airlines.

American Airlines CEO, Doug Parker, on the other hand, was not much interested in the offer.

"While anyone can purchase our shares in the open market, we aren't particularly excited about Qatar's outreach," Parker told company employees via a letter.

He also added that he found the offer "extremely puzzling," according to CNBC.

"… per U.S. law, no foreign entity can own more than 25 percent of a U.S. airline, so there is no possibility that Qatar will be able to purchase enough of American to control or influence our Board, management or our strategy," he explained.

After Qatar Airways' offer, American Airlines shares rose 1.2 percent on Thursday.

By Ovunc Kutlu in New York



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