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Qatar buys 10% of US Airways

rocky
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airways - Qatar buys 10% of US Airways Empty Qatar buys 10% of US Airways

Post by rocky on Sun 25 Jun 2017, 2:12 am

Qatar buys 10% of US Airways

Arab and international Since 2017-06-24 at 17:59 (Baghdad time)

Mawazine News - Follow up
Qatar Airways intends to buy 10% of US Airways because "its interest requires it," as she put it.
Following the announcement by the Qatari side, American Airlines rose 3%.
Qatar Airways will buy an initial stake of 4.75%, the largest share that can be purchased without the prior approval of the board of directors of American Airlines, because foreign property laws prohibit buying more than 24.9%.
Qatar said it was seeking "an inactive position in the company without any involvement in management, operations or governance."
The CEO of American Airlines, Doug Parker, wrote to the staff, telling them that executives were "not particularly enthusiastic" about Qatar's interest in getting a big stake in the company.
US airlines want US President Donald Rumsfeld to review "open skies" agreements that allow Gulf airlines to fly freely from the UAE and Qatar to any destination in the United States. US companies claim that the rapid expansion of Gulf airlines in the United States is hurting US jobs. While the Gulf airlines deny the allegations

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