NEW YORK: Qatar Airways, its Middle Eastern business pressured by a diplomatic row with neighbors, is seeking as much as a 10 percent stake in American Airlines, the US carrier said Thursday. The surprise investment push by Qatar Airways was disclosed by American Airlines in a securities filing Thursday saying the Qatari company planned to buy at least $808 million in American shares. Qatar Airways said it would not exceed this level without board approval and would “make all necessary regulatory filings.”“Qatar Airways sees a strong investment opportunity in American Airlines,” the company said in a statement. Qatar Airways has downplayed the impact of the dispute on its business, saying on June 14 that the “vast majority” of its network was unaffected. At the Paris Air Show this week, Qatar Airways was named the world’s top airline for passenger service by Skytrax, a closely-watched industry prize.

Source: New Strait Times June 22, 2017 23:03 UTC