Qatar Airways drops plan to buy stake in American Airlines

Qatar's Airbus A350XWB is a main staple of the airline's growing fleet

American Airlines (AAL) on Wednesday acknowledged Qatar Airways' announcement that it would drop a bid to purchase a minority stake in the USA carrier, weeks after company CEO Doug Parker called the proposed investment "puzzling".

However, Qatar Airways' investment proposition to American Airlines was far from welcome.

Executives at American have expressed concern over Qatar Airways' power in the airline industry in the past, after it used its geographical position on the Persian Gulf to build a transfer hub for rich long-haul passengers traveling the world.

The U.S. carrier said the agreements "no longer make sense" given its "extremely strong public stance" against Qatar Airways, Etihad, and Dubai's Emirates.

Qatar Airways began flying to Brazil in 2010 with a service from Doha, Qatar, to São Paulo, Brazil, and onwards to Buenos Aires, Argentina.

Qatar Airways has confirmed it would not be going ahead with its controversial plan to a buy a stake in American Airlines.

American said last month it would end its codeshare relationships with Qatar Airways, a fellow oneworld member, and Etihad Airways as a protest against the alleged subsidies it claims those airlines and Emirates Airline receive.

It was a decision to that was met with hostility from American and its employees.

Al Baker had made assurances that Qatar Airways would a "passive" investor in American that would not get involved in the USA airline's management. The company did not immediately respond to an inquiry from CNNMoney.

The Doha-based carrier has a history of making high profile equity investments, owning a 20-percent stake in IAG, the parent company of British Airways. Its state-run airway has been under economic pressure since its neighbors have sought to implement a trade embargo against the country over a political dispute.

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