This is a press release that is likely to cause quite a stir. In seven terse lines, sent to the media on Thursday afternoon, Qatar Airways unveils its capital-intensive ambitions targeting American Arlines. The Doha-based company says ". see American Airlines as a strong investment opportunity ". The press release continued: " Qatar Airways believes in the fundamentals of American Airlines and wants to develop a passive position in the company without any involvement in its management, operations or governance ".
The airline even spells out its intentions, and puts a figure on this possible acquisition of a stake: no more than 4,75%This is the rule, at least for the initial investment, and without prior approval from the American Airlines Board of Directors. This is the rule. But according to the document submitted by the American company to the Securities and Exchange Commission (SEC) - the US stock market watchdog - Qatar Airways could be looking to make a double-digit investment. The Doha-based carrier would like to acquire 808 million in securitiesand offer yourself 10% approximately of capital.
This announcement follows a series of turbulences affecting Qatar Airways, and the emirate more generally. The other Gulf states have been banning Qatar since the beginning of June, severing their diplomatic relations and therefore their air links. At the same time, the American authorities have set up a "laptop ban - or "electronics ban" - banning computers in the cabin on flights from a handful of airports but which could extend to Europe. Doha is one of them, so Qatar Airways had to react quickly, by offering loan computers on board its aircraft to stem the flight of business customers.
The American authorities assured us that this was a legitimate precaution against threats of attack. Some observers saw it as a retaliatory measure. In fact, American carriers are stepping up the pressure on the Trump administrationdenouncing unfair competition from Gulf carriers. American Airlines - along with Delta and United Airlines - is one of the signatories of the "Partnership for Open & Fair Skiesthe American airline lobby, which explicitly denounces the operating and financing methods of Etihad Airways, Emirates and... Qatar Airways.
"Confusing" for a "not very enthusiastic" Doug Parker
In a letter sent to the company's employees on 22 June, Doug Parker, CEO of American Airlineshe confessed " not being particularly enthusiastic".while recalling that " anyone can buy shares in the company on the open market".. " We find this confusing, given our widely known position on illegal subsidies that Qatar, Emirates and Etihad have received for years from their governments". the boss of the American company reminds us.
