World Media

Qatar Airways seeks 10 per cent stake in American Airlines

Qatar Airways seeks 10 per cent stake in American Airlines

American, the world's biggest airline, has tried to convince two successive USA administrations that Qatar and two other state-owned Middle Eastern carriers get illegal subsidies from their governments. They claim that the two Middle Eastern governments have provided more than $40 billion in subsidies to their airlines, including Qatar Airways, allowing them to essentially dump capacity in the U.S. market. Warren Buffett's Berkshire Hathaway has a 10 percent share, worth $2.45 billion.

The airline said it believed the U.S. government would continue to defend against "massive carrier subsidies that threaten the USA aviation industry and that threaten American jobs".

American's incorporation documents also prohibit anyone from buying more than 4.75 percent of the company's stock without advance approval from American's board of directors.

In the letter, Parker said American executives "aren't particularly excited" about Qatar's interest in acquiring a big stake in the company, but admitted that there's nothing they can do about it.

If approved, Qatar Airways' influence will be limited by USA foreign ownership laws capping foreign voting interest at 24.9 percent.

Emmanuel Macron's party looks set for big parliamentary win
The FN's result showed the party struggling to rebound from Le Pen's bruising defeat by Macron in May's presidential run-off. The second round of voting, set for next Sunday, will determine the actual number of seats Macron wins in parliament.

American's board has yet to receive a formal notice from Qatar that it intends to buy up to 10 percent of the US airline's outstanding shares.

Other carriers included in this year's top 10 airlines list include Singapore, Cathay Pacific, Emirates, Etihad and Lufthansa.

The first of the airline's aircraft to be fitted with the seats, a Boeing 777, is now on show at Le Bourget in Paris.

USA commentators suggested the move by Qatar is an attempt to muddy the waters in the battle by the United States carriers against their Gulf counterparts.

All three airlines have been charged with unfair competition by USA carriers including American Airlines, related to their government ownership. The countries have suspended all flights to and from Qatar.

Derek Carr gets contract extension with Raiders
I try to be the best version of myself every single day and give my teammates and this organization everything that I had. The way that players are able to take care of their bodies makes it even more likely that Carr plays into his late 30's.

The CEOs met earlier this month during an airline-industry event in Mexico, according to an American spokesman.

Qatar Airways is getting squeezed in a dispute between its national government and neighboring countries led by Saudi Arabia, which accuse Qatar of supporting Islamic extremists. "The Trump administration has also held the position of America first".

The Middle Eastern airline has issued a statement saying it sees the USA airline as a "strong investment opportunity".

The outreach drew a frosty response from the U.S. carrier, which said the intended purchase "was not solicited by American Airlines and would in no way change the Company's Board composition, governance, management or strategic direction". Last year, it raised its stake in British Airways-parent International Airlines Group to 20%. American's board would have to approve an acquisition of more than 4.75 percent, but Allied Pilots Association spokesman Capt. Dennis Tajer is skeptical of the offer. And in December it announced a 10 percent stake in Chile's Latam Airlines Group for $608 million.

Saudis Issue Broad List of Demands to Qatar
The list demands that members of those groups be expelled and Qatar stop financing terrorist groups - something Doha denies doing. United States officials said the goal of the Russians appeared to be creation of a rift among the U.S. and its allies.


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