American Airlines’ CEO called Qatar Airways’ move “puzzling at best and concerning at worst.”
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Qatar Airways ratcheted up a war of words with American Airlines over the Mideast carrier's plans to take a stake in its U.S. rival, as Chief Executive Officer Akbar Al Baker said his counterpart Doug Parker is "frightened" by the proposed investment.Baker's remarks stoked tensions between the two carriers that arose when Parker and other U.S. airline CEOs accused their Gulf rivals years ago of using government subsidies to compete unfairly.Including that gain, the shares have risen 8.1 percent since June 21, the day before the company disclosed Qatar's interest in buying a stake.The airline has already allowed Warren Buffett's Berkshire Hathaway Inc. to amass a 10 percent stake since last year.Qatar Airways and American are partners in the Oneworld global alliance and each counts British Airways as its closest global partner, with Qatar owning a 20 percent stake in BA parent IAG SA. But the Mideast company's planned investment in American still came as a surprise given recent tensions between the two.
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