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TerminalD
Topic Author
Posts: 363
Joined: Wed Apr 26, 2017 7:32 pm

QR Gives Up on Buying AA Stake

Thu Aug 03, 2017 2:17 am

It's a shame. I was looking forward to this going on long enough to enjoy a lot of popcorn.

In a statement, the state-owned airline cited American’s “latest public disclosure,” seeming to refer to a recent earnings report. Qatar said the disclosure demonstrated the “investment no longer meets our objectives.”

But Qatar’s interest, which became public in June, also met immediate resistance in the United States. For years, American has been one of Qatar’s primary foes in Washington. American, along with Delta and United, have accused Qatar and two other Persian Gulf-based carriers of receiving unfair government subsidies. The Gulf carriers have denied the accusations.

It is unclear whether that resistance from American, as well as signs in Washington that regulators might limit the investment, helped lead to Qatar’s reversal. The Treasury Department, one of the agencies that could have reviewed a Qatar investment, said it had no involvement in a potential deal.

American suggested on Wednesday that it welcomed Qatar’s change of heart.

“We respect Qatar Airways’ decision not to proceed with its proposed investment in American Airlines,” said Matt Miller, a spokesman for American.


https://www.nytimes.com/2017/08/02/busi ... lines.html
 
User avatar
DL747400
Posts: 968
Joined: Mon Sep 01, 2008 4:04 pm

Re: QR Gives Up on Buying AA Stake

Thu Aug 03, 2017 1:01 pm

Good! This was an ego-driven, very ill-conceived move from the very beginning. Hostile and provocative.

Hopefully AA told Al Baker to go pound sand.................
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TerminalD
Topic Author
Posts: 363
Joined: Wed Apr 26, 2017 7:32 pm

Re: QR Gives Up on Buying AA Stake

Thu Aug 03, 2017 1:10 pm

DL747400 wrote:
Good! This was an ego-driven, very ill-conceived move from the very beginning. Hostile and provocative.

You've just described every Wall Street acquisition.

I'm sure Wall Street will approve of QR being turned away by sending the stock down.
 
User avatar
Super80Fan
Posts: 1622
Joined: Thu Jul 06, 2017 4:14 am

Re: QR Gives Up on Buying AA Stake

Thu Aug 03, 2017 1:18 pm

DL747400 wrote:
Good! This was an ego-driven, very ill-conceived move from the very beginning. Hostile and provocative.

Hopefully AA told Al Baker to go pound sand.................


If only AA told their Wall Street overlords to pound sand as well.... Cowards.
RIP McDonnell Douglas
RIP US Airways
 
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Channex757
Posts: 2416
Joined: Sat Jun 18, 2016 7:07 am

Re: QR Gives Up on Buying AA Stake

Thu Aug 03, 2017 1:22 pm

Change of heart my hairy a....

This is nothing more than QR continuing to roll-back on spending cash. They cancel A350s at the factory gate and now this. The Gulf States crisis is starting to bite and Al Baker's bosses have probably told him to stop throwing their money about in case they need to fight a war.
 
CaliguyNYC
Posts: 1246
Joined: Tue Sep 27, 2016 7:27 pm

Re: QR Gives Up on Buying AA Stake

Thu Aug 03, 2017 1:48 pm

Look both QR and Qatar needed to take a deep breadth and chill. They can't take on the world all at once. I believe that the ME3 succeeded initially because they were under the radar. They appeared to Indians, Europeans as just an airline trying to grow and give good service (and fill in gaps that other airlines weren't serving). And before anyone knew it, they were huge. Now they have bluster and think things are their right. That is where they are wrong. Even if it "should" be that way, a smart businesses person would not bite the hand that feed it.
 
parapente
Posts: 3061
Joined: Tue Mar 28, 2006 10:42 pm

Re: QR Gives Up on Buying AA Stake

Thu Aug 03, 2017 1:52 pm

I think they just spent all the money on a footballer!
 
ayoungblood2
Posts: 58
Joined: Mon Jun 12, 2017 8:48 pm

Re: QR Gives Up on Buying AA Stake

Thu Aug 03, 2017 2:48 pm

Super80Fan wrote:
DL747400 wrote:
Good! This was an ego-driven, very ill-conceived move from the very beginning. Hostile and provocative.

Hopefully AA told Al Baker to go pound sand.................


If only AA told their Wall Street overlords to pound sand as well.... Cowards.


I see both sides. On one hand, the only reason Al-Baker was interested in this option was because it would have been a power move. However, on the other hand Qatar Airways has consistently been ranked as one of the best airlines in the world in recent years, and I do think that maybe having a major stakeholder who prioritized the overall customer experience over profits could prove to be beneficial for AA. Out of the US3, AA is probably my least favorite carrier to fly on. However, all of the US3 have been experiencing incredible profits while providing mediocre service (at best), and I do agree with Al-Baker when he stated that the US carriers provide "crap" service. Hell, Jetblue and Virgin America are both discount airlines and they both provide a better product and experience than the legacy carriers. Time for AA, DL, and UA to either step up their game or lower their prices.
 
User avatar
Super80Fan
Posts: 1622
Joined: Thu Jul 06, 2017 4:14 am

Re: QR Gives Up on Buying AA Stake

Thu Aug 03, 2017 2:51 pm

ayoungblood2 wrote:
Super80Fan wrote:
DL747400 wrote:
Good! This was an ego-driven, very ill-conceived move from the very beginning. Hostile and provocative.

Hopefully AA told Al Baker to go pound sand.................


If only AA told their Wall Street overlords to pound sand as well.... Cowards.


I see both sides. On one hand, the only reason Al-Baker was interested in this option was because it would have been a power move. However, on the other hand Qatar Airways has consistently been ranked as one of the best airlines in the world in recent years, and I do think that maybe having a major stakeholder who prioritized the overall customer experience over profits could prove to be beneficial for AA. Out of the US3, AA is probably my least favorite carrier to fly on. However, all of the US3 have been experiencing incredible profits while providing mediocre service (at best), and I do agree with Al-Baker when he stated that the US carriers provide "crap" service. Hell, Jetblue and Virgin America are both discount airlines and they both provide a better product and experience than the legacy carriers. Time for AA, DL, and UA to either step up their game or lower their prices.


Yes definitely agree with you, Al-Baker wanted this as a "power move" and in all honesty this was a pretty emotional decision rather than smart one. However he is 100% correct in his assessment on DL, UA, and AA.
RIP McDonnell Douglas
RIP US Airways
 
airbazar
Posts: 10197
Joined: Wed Sep 10, 2003 11:12 pm

Re: QR Gives Up on Buying AA Stake

Fri Aug 04, 2017 3:18 pm

parapente wrote:
I think they just spent all the money on a footballer!

:rotfl:
The new Emiri 748 will be called Neymar1, apparently.
 
Brickell305
Posts: 1097
Joined: Sat Jun 24, 2017 2:07 pm

Re: QR Gives Up on Buying AA Stake

Fri Aug 04, 2017 6:01 pm

Super80Fan wrote:
ayoungblood2 wrote:
Super80Fan wrote:

If only AA told their Wall Street overlords to pound sand as well.... Cowards.


I see both sides. On one hand, the only reason Al-Baker was interested in this option was because it would have been a power move. However, on the other hand Qatar Airways has consistently been ranked as one of the best airlines in the world in recent years, and I do think that maybe having a major stakeholder who prioritized the overall customer experience over profits could prove to be beneficial for AA. Out of the US3, AA is probably my least favorite carrier to fly on. However, all of the US3 have been experiencing incredible profits while providing mediocre service (at best), and I do agree with Al-Baker when he stated that the US carriers provide "crap" service. Hell, Jetblue and Virgin America are both discount airlines and they both provide a better product and experience than the legacy carriers. Time for AA, DL, and UA to either step up their game or lower their prices.


Yes definitely agree with you, Al-Baker wanted this as a "power move" and in all honesty this was a pretty emotional decision rather than smart one. However he is 100% correct in his assessment on DL, UA, and AA.

Buying a 10% stake in one of the world's most profitable airlines isn't a smart decision?

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