In a conversation between the CEOs of both companies, Qatar Airways said it wanted to buy about 10% of public shares, American Airlines said in a regulatory filing.
Qatar Airways filed under the Hart-Scott-Rodino Act, as required for its proposed investment of at least $808 million, American Airlines said. It added that anyone who wanted to buy over 4.75% of the company must gain board approval but that it hadn’t received such a request.
The proposed investment by Qatar Airways was not solicited by American Airlines and would in no way change the company’s board composition, governance, management or strategic direction,” American Airlines said.
The carrier added that it remained committed to pursuing fair competition with airlines based in Gulf nations. US airlines have raised concerns that the subsidies that Qatar Airways, Etihad Airways, and Emirates receive from their home countries create unfair competition and could squeeze them out of key markets.
Latest posts by John (see all)
- Qatar’s new law on exit permits to come into effect on Oct 28 - October 23, 2018
- Kenya Airways increases Mauritius Flights from Nov 2018 - October 17, 2018
- Hurricane Michael Forecast - October 16, 2018