American Airlines addresses Qatar Airways' decision to drop investment plans

Boeing 787 airplane purchased by Qatar Airways is shown during a delivery ceremony in Everett Wash. Qatar Airways announced Sunday

"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", the airline said in a statement on Wednesday. The Fort Worth, Texas-based company didn't immediately comment on Qatar Air's decision.

It was an odd move.

The Gulf carrier had expressed interest in purchasing as much as 10 percent of the Fort Worth, Texas-based airline, now the largest in the world.

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On June 5, Saudi Arabia and its allies including Egypt and the United Arab Emirates cut diplomatic and trade ties with Qatar, accusing Doha of backing extremist groups and being too close to riyadh's arch-rival Iran.

Qatar said in a statement that it would continue to look for opportunities to invest in airlines around the world to develop "the best possible travel experience for its customers".

USA airlines have accused Qatar, Emirates and Etihad Airways of receiving billions of dollars in unfair subsidies from their governments, with the US carriers lobbying the Trump administration to intervene.

Trump's tax plan has aggressive timeline but no details
The lower rate would also apply to small businesses now taxed as individuals, which often face a top rate of close to 50 percent. Added Schumer: "From what we've heard from the White House so far, their plan wouldn't do any of that".

Qatar Airways, a long time American partner through their mutual membership in the Oneworld airline alliance, had always stressed that its investment would be passive and that it had no wish to participate in the airline's management.

American and other USA airlines, including Delta and United, have accused state-run Qatar Airways - along with United Arab Emirates airlines Emirates and Etihad - of getting unfair financial backing from their respective governments in violation of Open Skies agreements.

In July, American ratcheted up the tension by announcing that it was dropping seat-selling partnerships with Qatar and Etihad because of the subsidies dispute.

Iran accuses U.S. navy of firing warning shots at its vessels
In January, the USS Mahan fired shots toward Iranian fast-attack boats as they neared the destroyer in the Strait of Hormuz. The Navy ship fired warning shots into the water over concerns of a collision, one of the officials said.

American spokesperson Matt Miller said Wednesday that the company "respects" Qatar's decision to drop its proposed investment. "We couldn't be more excited to keep our focus on that mission".

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