NEW YORK
State-owned Qatar Airways is attempting to buy a 10 per cent stake in American Airlines, triggering US antitrust oversight of deals that size.
American said in a regulatory filing on Thursday that the bid was unsolicited, but that the CEOs of both airlines have spoken. Qatar submitted a filing under the Hart-Scott-Rodino Act, which is subject to review by the Justice Department’s Antitrust Division.
American and Qatar are already members of the Oneworld marketing alliance, which allows passengers to earn and redeem points on each other’s flights. An expanded partnership could make it easier for American passengers to get to smaller cities in India, and developing countries in Southeast Asia.
American said that Qatar’s proposed investment wouldn’t change its board make-up, governance, management or strategic direction.
Shares of American Airlines Group Inc rose 3 per cent at the opening bell.
