A few weeks after Qatar Airways let it be known that it was interested in purchasing about a 10% share in American Airlines, the carrier has decided to give up its pursuit.
The airline said in a statement that after further review, it has “taken the decision not to proceed with its proposed passive financial investment in American Airlines,” noting that the plan “no longer meets our objectives.”
“Qatar Airways will continue to investigate alternative investment opportunities in the United States of America and elsewhere that do meet our objectives.”
Though Qatar noted that it took “into account the latest public disclosure of American Airlines” in making this decision, it’s unclear what it means by that, exactly.
American weighed in on the news today in its own, saying it respects Qatar’s decision “not to proceed with its proposed investment.”
“This in no way changes the course for American,” the company said. “Our 120,000 team members remain energized and focused on taking care of those who entrust us with their travel needs. We couldn’t be more excited to keep our focus on that mission.”
Executives at American have expressed concern over Qatar Airways’ power in the airline industry in the past, after it used its geographical position on the Persian Gulf to build a transfer hub for rich long-haul passengers traveling the world.
Back in June when Qatar sent its intended an notice that it was interested, American’s CEO Doug Parker told employees that the company wasn’t “particularly excited” about the outreach, noting that “we find it puzzling given our extremely public stance on the illegal subsidies that Qatar, Emirates and Etihad have all received over the years from their governments.”
by Mary Beth Quirk via Consumerist
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