Qataris bid to snap up 10pc of US airline

QATAR has launched a fresh power grab on the global airline industry with plans to snap up 10pc of one of America’s most recognised carriers.

Gulf airline Qatar Airways, already the biggest shareholder in British Airways owner IAG, is seeking a £638m stake in American Airlines.

The deal comes as the carrier seeks to navigate testy waters in the United States, after tighter security measures and a ban on travellers from certain Muslim countries under president Donald Trump.

Qatar has also been rocked by a furious row in the Middle east over its alleged support of Iran and Islamist terrorism, with six Arab countries severing diplomatic ties with Doha.

A number of Arab states have also closed their airspace to Qatar Airways.

According to the US carrier, it had not yet received written notice from the Gulf carrier of its intention to invest.

A 10pc stake would make Qatar one of American’s largest shareholders and comes after the firm raised its stake in IAG to 20.4pc last August.

The two firms have been at loggerheads over competition concerns with American accusing Qatar of using state subsidies to offer substantially lower fares.

In a filing confirming the approach it said a holding by Qatar Airways would not change its stance on the position. Anyone seeking to acquire at least 4.75pc of its stock is required to receive approval from its board after giving written notice, which had not yet been received.

The gulf carrier’s investment would trigger a review by the antitrust division of the US justice department.

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