Qatar Airways ditches plan to buy stake at American rival

Legacy carriers in the US have for years charged that their Gulf rivals, including Qatar, have received billions of dollars of unfair state subsidies. (Reuters)
Updated 02 August 2017
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Qatar Airways ditches plan to buy stake at American rival

NEW YORK: Qatar Airways will not proceed with its proposed financial investment in American Airlines Group, reversing an earlier decision to build a stake of up to 4.75 percent 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 was met with suspicion by critics at a time when Qatar is embroiled in the region’s worst diplomatic crisis in years and is locked in an airspace rights row with three other Gulf states.
At the same time, legacy carriers in the US have for years charged that their Gulf rivals, including Qatar, have received billions of dollars of unfair state subsidies, allegations the Gulf carriers deny.
When news broke of Qatar’s intentions, American Airlines slammed the move, accusing the Middle Eastern carrier of receiving “illegal” state subsidies.
In response to the proposed investment, American said it was canceling its code-share agreements with Qatar Airways and Gulf rival Etihad Airways.
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.


Saudi Justice Ministry introduces new e-service

Walid Al-Samaani
Updated 1 min 57 sec ago
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Saudi Justice Ministry introduces new e-service

  • The new lease offers applicants the right to apply directly to the Court of Execution in clear electronic proceedings
  • Real estate owners can now apply, through the “unified lease agreement

JEDDAH: The Saudi justice minister and chairman of the Supreme Judicial Council, Walid Al-Samaani, has directed his ministry to start receiving requests for the implementation of the unified housing lease in the execution courts as an executive bond through the “unified lease contract,” after linking electronically with the Ministry of Housing.
The new lease offers applicants the right to apply directly to the Court of Execution in clear electronic proceedings.
Assistant Undersecretary of the Ministry of Justice for Implementation Sheikh Abdul Aziz bin Saleh Al-Suhaiman explained this step will contribute to reducing the flow of cases to the general courts.
Al-Suhaiman said the real estate owners can now apply, through the “unified lease agreement,” which is registered in the electronic rental network, directly to the executive courts and departments, through the ministry’s portal, if the tenant does not pay the value of the rent when due. This step will contribute to reducing the flow of more than 22,000 cases reviewed by the general courts during 1438H and 1439H on leases.