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