< Reveal sidebar

Qatar’s Airbus A350XWB is a main staple of the airline’s growing fleet (Photo: Qatar Airways)

Qatar Airways Drops Bid for American Airlines Investment

Doha, Qatar-based Qatar Airways announced Wednesday they will not invest in American Airlines as they had previously intended. The U.S. carrier had vigorously opposed the investment.

“Further review of the proposed financial investment, taking into account the latest public disclosure of American Airlines, has demonstrated that the investment no longer meets our objectives,” Qatar Airways said in a statement emailed to various news outlets Wednesday.

American Airlines has not yet commented publicly on the recent announcement.

The Gulf carrier had expressed interest in purchasing as much as 10 percent of the Fort Worth, Texas-based airline, currently the largest in the world. But other reports suggested they were willing to lessen the percentage to avoid needing Board of Directors approval.

The proposed investment came as a surprise to many, especially as the Middle East’s biggest carriers – Emirates, Etihad, and Qatar – are locked in a heated battle with the legacy carriers in the U.S. over the Gulf carriers’ use of government subsidies.

The carrier, however, said they would continue looking for ways to expand their U.S. investment portfolio.

“Qatar Airways will continue to investigate alternative investment opportunities in the United States of America and elsewhere that do meet our objectives.”

Parker Davis
Parker Davis
Related Stories

Airline Maintenance Workers Honored Despite Difficult Season for Airlines

As the aviation industry grapples with the economic impact of the novel coronavirus, many airlines took the time to publicly…

Turkish Airlines Won’t Lay Off Employees for Two Years

Turkish Airlines announced it will resist layoffs and protect their skilled labor until the end of 2021, when it expects…

Indian Government Sets Price Limits on Airfares

India implemented one of the toughest lockdowns in the world as the coronavirus started spreading across the country. Outside of…