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>> With Qatar getting the cold shoulder from its gulf state neighbors, its state owned airline is looking far beyond the Middle East to boast of fortunes all the way to the US. American airlines revealing Thursday that Qatar Airways is interested in investing upwards of $800 million for as much as a 10%percent stake in the biggest US air carrier.
American Airlines puzzled by the interest, which seemingly came out of nowhere. CEO Doug Parker, has made his opinion about gulf state carriers like Qatar Airways clear that Qatar, along with rivals, Emirates Airline and Etihad Airways, are unfairly making inroads in the US market. Accusing them of getting billions of dollars in state support, enabling them to lower fares.
According to one report, he's gone as far as calling it we quote, biggest threat I've ever seen. So why is Qatar Airlines looking to invest in what is hostile territory? The second biggest player in the Middle East has been building stakes in airlines all around the world, and already owns 20% of British Airways parent and 10% of South America's Lan Tam.
Those investments, along with the one at once an American have something in common. All four airlines are part of the Oneworld airline marketing alliance, which means, Qatar is hoping stronger ties will eventually lead to stronger revenues. Airline investors, liking what they hear, sending shares of American Airlines higher.