American Airlines's Stock Surges After Qatar Airways Discloses 'significant' Investment Interest

Shares of American Airlines Group Inc. jumped 5.5% in premarket trade Thursday, after the air carrier disclosed that it received unsolicited notice that Qatar Airways intended to make a "significant investment." In a filing with the Securities and Exchange Commission, American said Qatar has submitted a filing regarding a potential investment under the Hart-Scott-Rodino Act, which would be required for an acquisition of more than $81 million worth of American's common stock. The notice said Qatar plans to buy at least $808 million worth of American common stock, and has indicated interest in acquiring a 10% stake. American's market capitalization as of Wednesday's close was $23.86 billion. "The proposed investment by Qatar Airways was not solicited by American Airlines and would in no way change the company's Board composition, governance, management or strategic direction," American stated in the filing. The stock has gained 3.u% year to date through Wednesday, while the NYSE Amex Airline Index has tacked on 3.8% and the S&P 500 has gained 8.8%.