Qatar Airways seeks 10% stake in American Airlines
NEW YORK, US: Qatar Airways has notified American Airlines that it wants to buy about a 10% stake in the US carrier, which confirmed the move on Thursday in a securities filing.
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Qatar Airways told American it would undertake purchases of American common stock with an eye toward a 10% stake, the filing said.
Shares of American shot up 5.6% in pre-market trade. Some neighbouring countries in the Middle East, including Saudi Arabia, have suspended all flights to and from Qatar as part of a diplomatic row with the Gulf country.
Source: AFP