Qatar Airways interested in buying 10 percent stake in American Airlines

American recently received an unsolicited offer from the Middle Eastern carrier that it intends to purchase at least $808 million in the US airline.The shares rose 5.5 per cent to US$51.10 at 9:00am in premarket trading in NY. Furthermore, American stated that this does not change the company’s lobbying efforts regarding the need to enforce the Open Skies agreements with the United Arab Emirates and the nation of Qatar and ensure fair competition with Gulf carriers. Laws on foreign ownership also limit the total percentage of foreign voting interest to 24.9%, according to American Airlines’ SEC filing.Meanwhile, Qatar Airways also is getting squeezed in a dispute between its national government and neighboring countries led by Saudi Arabia, which accuse Qatar of supporting Islamic extremists.Last week, al-Baker said in a statement that Qatar Airways was largely unaffected by the boycott decision, operating some 1,200 flights in the first week of the crisis, 90 percent of which took off within 15 minutes of their scheduled departure times.The carrier’s fast growing fleet is contributing heavily to the economies in Europe and the U.S. It is the largest customer for the Airbus A350 and one of the biggest buyers of U.S. -made Boeing 787 Dreamliners.American Airlines said that the state-owned Qatari carrier had disclosed that it planned to buy at least $808m (£638m) in shares.Other winners include AirAsia for best low-priced airline in the world and Etihad for best first-class in the world.”Qatar Airways sees a strong investment opportunity in American Airlines“. Qatar has submitted a filing under the Hart-Scott-Rodino Act related to the intended investment.The two airlines have had their differences in recent months.Despite its plush cabins Qatar Airways is tiny compared with American and other competitors.”We are extremely proud that SAA has been recognized by global air travelers and Skytrax™ to receive this award”, said Todd Neuman, executive vice president-the Americas for South African Airways.British Airways and Qatar Airways have a revenue sharing partnership between their respective hubs in Doha and London, and Qatar Airways plans to launch flights to LATAM’s base in Santiago, Chile.