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-   -   Qatar Airways to buy up to 10% of American Airlines (https://www.pprune.org/airlines-airports-routes/596188-qatar-airways-buy-up-10-american-airlines.html)

peekay4 22nd Jun 2017 12:47

Qatar Airways to buy up to 10% of American Airlines
 

American Airlines on Thursday said it recently received an unsolicited offer from Qatar Airways about its intention to acquire at least a 10 percent stake in its company, a move that not many people could have predicted.

The notice advised that Qatar intends to purchase at least $808 million in the U.S.-based airline following a conversation between the two companies' CEOs, which was initiated by Qatar Airways' CEO, Akbar Al Baker, American said in a statement.

American said Thursday that it will respond to the notice "in due course" with the appropriate filings required under the Hart-Scott-Rodino (HSR) Act. Qatar Airways has submitted a filing under the HSR Act, with respect to its potential investment in American Airlines common stock, the companies have confirmed.

Shares of American Airlines jumped nearly 5 percent on this news. [...]

This news might come as a surprise because American's CEO, Doug Parker, has been extremely vocal in blasting Gulf carriers, like Qatar, arguing they receive subsidies and have potentially hurt U.S. carriers as a result.

A deal like this, though, couldn't be stopped by Parker, so long as Qatar doesn't exceed the 24.9 percent ceiling.
More from: Qatar Airways interested in acquiring about a 10% stake in American Airlines

OldLurker 22nd Jun 2017 20:46

Qatar Airways to buy at least 10% of American Airlines
 
Headline is incorrect: should say at least 10%, not up to 10%. The story says QR intends to buy at least a 10 percent stake in AA.

packapoo 22nd Jun 2017 22:37

Well, let's wait until a headline proclaims they have PURCHASED.
All hot air until then.....

peekay4 23rd Jun 2017 06:13


Originally Posted by OldLurker (Post 9809715)
Headline is incorrect: should say at least 10%, not up to 10%. The story says QR intends to buy at least a 10 percent stake in AA.

Oops sorry originally I planned to quote Reuters while drafting the post. Reuters was/is reporting "up to 10%" not "at least 10%".

From Reuters:


American Airlines' chief executive said on Thursday he is not "particularly excited" about Qatar Airways' interest in buying up to 10 percent of the U.S. carrier's shares, in a letter to employees following the state-owned Gulf airline's overture.
https://www.reuters.com/article/us-a...-idUSKBN19D1IS


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