Qatar Airways has notified American Airlines that it wants to buy about a 10 percent stake in the US carrier, which confirmed the move Thursday in a securities filing.
Qatar Airways told American it would undertake purchases of American common stock with an eye toward a 10 percent stake, the filing said. Shares of American shot up 5.6 percent in pre-market trade.
Some neighboring countries in the Middle East, including Saudi Arabia, have suspended all flights to and from Qatar as part of a diplomatic row with the Gulf country.