Qatar Airways has scrapped its plans to buy a 10 percent
stake in American Airlines. "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," the carrier said.
"Qatar Airways will continue to investigate alternative investment
opportunities in the [U.S.] and elsewhere that do meet our objectives."
The statement did not elaborate on what "public
disclosure" prompted the decision. American CEO Doug Parker had said he
wasn't "particularly excited" about the investment, though Qatar had
planned to invest in public stock.
Qatar Airways already has significant
investments in several airlines, including a 10 percent stake in Latam. This
week, it announced it will add its code on Latam connections between Sao Paulo
and 25 cities across Brazil.
In
the meantime, as the nation of Qatar's diplomatic
crisis with neighboring nations continues, some airspace may reopen to Qatar
Airways. Following a meeting between Qatar and the UN's International Civil
Aviation Organization, Al Jazeera reported that three contingency routes over
international waters should reopen to Qatar this month.