Qatar Airways drops plan to buy into American Airlines

Qatar Airways will not proceed with its proposed financial investment in American Airlines Group Inc, reversing an earlier decision to build a stake of up to 4.75% in the US carrier.
"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," Qatar Airways said in a statement.
"Qatar Airways will continue to investigate alternative investment opportunities in the United States of America and elsewhere that do meet our objectives."
Qatar Airways' proposal to buy into American came at a time when Qatar is embroiled in a diplomatic crisis and is locked in an airspace rights row with three other Gulf states.
In a statement, American Airlines said: "We respect Qatar Airways' decision not to proceed with its proposed investment".

American, along with US competitors Delta Air Lines and United Airlines, have pressed the US government to curb US flights by Qatar Airways, Emirates and Etihad Airways.