In late June, Qatar Airways announced their intentions to buy up to a 10% stake in American Airlines. Per a filing at the time, Qatar first wanted to acquire an $808 million stake (~4%) in American, and was considering increasing that at a later point. While I'd usually call Qatar's bluffs, the airline has purchased…
Continue reading: Qatar Airways Is Not Investing In American After All
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I reported this on your Qatar post immediately preceding this post Lucky....credit to the source
This is so sad. Qatar's investment could have assisted American Airlines in their goal "Going for Great!"
I was so looking forward to Qatar and American cooperating more fully with this share purchase including stronger connecting flight integration at PHL from American to the Qatar flight.
American has outdone itself in stupidity lately, getting drawn into this fight against the ME3 that is really only in the interests of Delta, therefore ending their codeshares with QR and EY, and proceeding with Basic Economy across the system even though both they and United admitted in their earnings calls that American is gaining market share to date by NOT introducing it.
Sad but not surprising to see Qatar pull their investment. While I know AA didn't welcome the Qatari cash, I was hoping it would start a process to usher in more cooperation between the two in the long run (and hopefully inject improved management and service culture into AA).
Guess we just see more "copy Delta at all costs" instead.
Aw, and I was really hoping this would mean AA would actually be a good airline! A man can dream...
They figured spending almost 300 million to get a brazilian footballer from Spain to France was a better deal?
Good! QR needs to stick to their knitting for the time being. They have much bigger fish to fry.
@Petri, they ("Qatar Sports Investment") actually pay 800m euros or almost 1b usd for Neymar!
The transfer fee is only a part of that. On top of that, Neymar will earn 450m euros for 5 years, his father will earn 100 million as an adviser and presumably for helping to broker the deal. Plus a few smaller items that I've forgotten already.
These middle east countries are certainly not very wise investing their oil wealth. Especially considering that the the advancing electrification of the car fleet combined with massive buildout of wind and solar power plants at grid parity cost will steamroll them.
Imagine, Etihad/ UAE also wasted 3 billion funding ongoing operating losses at Air Berlin and Alitalia
@Chris K - how true when you say:
These middle east countries are certainly not very wise investing their oil wealth. Especially considering that the the advancing electrification of the car fleet combined with massive buildout of wind and solar power plants at grid parity cost will steamroll them. Imagine, Etihad/ UAE also wasted 3 billion funding ongoing operating losses at Air Berlin and Alitalia.
And don't forget to mention their antiquated sewage systems.
Easier to waste oil money on soccer and Royal Family fun.