Qatar Airways backs away from American Airlines investment

Qatar Airways said it will no longer pursue buying a stake in American Airlines, contending “the investment no longer meets our objectives.”

“Qatar Airways has taken the decision not to proceed with its proposed passive financial investment in American Airlines,”

Qatar Airways said in a statement. “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. Qatar Airways will continue to investigate alternative investment opportunities in the United States of America and elsewhere that do meet our objectives. Qatar Airways will continue to seek opportunities to invest in global aviation to support the airline’s goal to offer the best possible travel experience for its customers.”

It is unclear what Qatar Airways is referring to in regard to American’s “latest public disclosure.” American’s most recent major public announcement was the release of its second-quarter earnings on July 28, when it reported a quarterly net profit of $803 million.

“We respect Qatar Airways’ decision not to proceed with its proposed investment in American Airlines,”

American spokesperson Matt Miller said. “This in no way changes the course for American. Our 120,000 team members remain energized and focused on taking care of those who entrust us with their travel needs.”