Qatar Airways is said to have been offered a 25% share in an unnamed United States-based start-up airline, CEO Akbar al Baker said during a press conference in Kuwait.
According to CH-Aviation, he did not specify any details regarding the airline nor did he confirm if Qatar Airways is at all interested in taking up the offer. The only thing which has been revealed is that the start-up is a privately held company.
According to a Reuters report, Al Baker also said he believes that the Qatari government, the airline’s full owner, is open to a 49% ownership swap with any other carrier in which Qatar Airways has invested in. Most of the largest airlines in the region, including Emirates (EK, Dubai Int’l) and Etihad Airways (EY, Abu Dhabi Int’l), are owned by governments.
Last year, Qatar Airways unsuccessfully tried to acquire a 10% stake in American Airlines. The bid was opposed by the US carrier’s management and eventually dropped.
Other holdings of the Qatari company include a 20% share in IAG International Airlines Group, a 49% share in Meridiana (IG, Olbia), a 10% share in LATAM Airlines Group, and a 9.6% share in Cathay Pacific (CX, Hong Kong Chek Lap Kok).
The potential acquisition could become a way for the Qatari airline to diversify its revenues streams and offset losses made by the parent company. Qatar Airways is expected to post a significant loss this financial year after Saudi-Arabia and the United Arab Emirates closed their respective airspaces to Qatar-registered aircraft. In 2016, Qatar Airways posted a USD541 million net profit.
