Qatar Airways says offered 25 percent stake by US startup airline

A start-up airline within the United States has offered a 25 percent stake to Qatar Airways, Chief Executive Akbar al-Baker said on Wednesday, giving the Gulf carrier a second chance to buy into a U.S. airline.

Qatar Airways tried to buy up to 10 percent of listed American Airlines last year, yet changed its mind in August after opposition through the U.S. carrier’s management.

The start-up airline was private as well as so Qatar Airways might not face the same opposition This specific time, Baker told reporters at an air show in Kuwait.

However, he declined to name the airline or disclose where the item might be based as well as did not say if Qatar Airways intended to purchase the stake.

Qatar Airways bought 9.61 percent of Cathay Pacific as well as 49 percent of Italy’s Meridiana last year.

Those acquisitions added to a portfolio of airline holdings in which includes 20 percent of British Airways-parent International Consolidated Airlines, as well as 10 percent of South America’s LATAM Airlines.

Baker said Qatar Airways’ owner, the government of Qatar, is usually open to swapping up to 49 percent of its shares with additional airlines in which the Gulf carrier has stakes.

“We might the largest carrier of the globe,” he said of his idea to create a virtual mega airline.

Qatar Airways was blocked last year through flying to the lucrative markets of Saudi Arabia as well as the United Arab Emirates because of restrictions imposed by those countries.

Baker said the airline might make a significant loss within the 12 months to March 31 due to those restrictions which also blocks the airline through flying over Saudi Arabia as well as the UAE.

The airline reported a profit of $541 million for the previous financial year.

Baker also expressed regret about management adjustments at Airbus, including the impending departure of Chief Operating Officer Fabrice Bregier, due to step down in February.

“Airbus is usually going into uncharted waters,” Baker said, warning in which additional staff could also leave the European planemaker.

Bregier was long assumed to be the heir apparent to Chief Executive Tom Enders, who is usually to leave the company next year.

“Not having a continuity of management will, I think, be very disruptive to Airbus.”

Airbus declined to comment on Baker’s remarks. Qatar Airways is usually one of the largest Middle East airlines as well as is usually a major customer of Airbus as well as its rival, Boeing.

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