Qatar Airways backs away from American investment

Qatar Airways said it will no longer pursue buying a stake in American Airlines, contending “the investment no longer meets our objectives.” Qatar Airways surprised the global airline industry in June when it announced its intention to acquire up to a 10% stake in American valued at about US$800m. American made no secret of its discomfort with the proposed unsolicited bid. “Qatar Airways has taken the decision not to proceed with its proposed passive financial investment in American Airlines,” Qatar Airways said. “Further review of the proposed financial investment, taking into account the latest public disclosure of American Airlines, has demonstrated that the investment no longer meets our objectives." It is unclear what Qatar Airways is referring to in regard to American’s “latest public disclosure.” <br/>