Stake in U.S. air­line a no-go for Qataris

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM -

Qatar Air­ways on Wed­nes­day said that it is drop­ping an at­tempt to buy a big stake in Amer­i­can Air­lines, a move that re­ceived a chilly re­cep­tion from Amer­i­can.

Qatar Air­ways said the in­vest­ment no longer meets its ob­jec­tives. Amer­i­can Air­lines Group Inc. did not com­ment im­me­di­ately.

Qatar said in June that it planned to buy an ini­tial stake of up to 4.75 per­cent of Amer­i­can’s stock, but the Fort Worth-based com­pany said Qatar’s goal was to get a 10 per­cent stake.

It was an odd bid. The two air­lines are on op­po­site sides in a nasty fight that has big U.S. car­ri­ers com­plain­ing that Qatar and other Mid­dle East air­lines get il­le­gal sub­si­dies from their gov­ern­ments.

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