ECONOMY

American Airlines CEO says Qatar Airways offer ‘puzzling and concerning’

Qatar Airways has reportedly made an offer to buy a 10 percent stake in the airline. (File photo: AFP)

In a letter to his staff, American Airlines Chief Executive Doug Parker said Qatar Airways’ offer to buy a 10 percent stake in the airline as “puzzling at best, concerning at worst”.

In a regulatory filing last week, it was revealed that Qatar wants to buy at least $808m of American’s shares.

“While anyone can purchase our shares in the open market, we aren’t particularly excited about Qatar’s outreach, and we find it puzzling given our extremely public stance on the illegal subsidies that Qatar [receives],” Parker wrote.

The offer was an attempt by Qatar Airways to break out or at least alleviate its stifling crisis due to a decision by several Arab and Gulf countries to sever ties with Doha over its support for extremist groups.

“We will not be discouraged or dissuaded from our full court press in Washington, D.C., to stand up to companies that are illegally subsidized by their governments. We stand for American Airlines, and we stand for all of you and the amazing work you do every day, around the globe, to take care of our customers,” added in his letter published by the Financial Times.

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Last Update: Sunday, 25 June 2017 KSA 22:12 - GMT 19:12
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