American Airlines CEO says Qatar proposal makes no sense [CNBC]
Churchill Capital Corp V Class A (CCV)
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Source: CNBC
American Airlines Chairman and CEO Doug Parker is blunt about how he views Qatar Airways proposal to buy up to ten percent of his airline. "It makes no sense," Parker told CNBC. The suggestion of Qatar taking a stake in American was first raised by Qatar Airways CEO Akbar Al Baker two weeks ago when he approached Parker at an industry conference in Cancun, Mexico. What was Parker's reaction? "I found it confusing. I was a little bewildered," he said. "Why an airline we are aggressively fighting would want to take a stake makes no sense." Parker's feeling has been echoed throughout the airline industry and on Wall Street. "We don't see it happening," Hunter Keay, airline analyst for Wolfe Research, wrote in a note sent to clients. "All else equal, we see a remote chance of this going forward." American's board has yet to receive a formal notice from Qatar that it intends to buy up to 10 percent of the U.S. airline's outstanding shares. Any purchase of more than 4
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