°®Âþµº

Qatar Airways disclosed that it seeks to buy at least $808 million in shares, and Qatar Airways' chief executive told his counterpart at American Airlines that the carrier sought a stake of around 10 percent.

"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 Airlines said in a securities filing. 

Earlier in June the UAE, Saudi Arabia, and Bahrain banned all "Qatari aviation companies and aircraft registered in the state of Qatar" from landing or transiting through their airspace.

Qatar Airways CEO Akbar al-Baker said the move by Saudi Arabia and its allies was an "illegal blockade".

The move came after Saudi Arabia, Bahrain, and the UAE severed ties with Qatar over Doha's alleged support for extremist groups and Iran. Qatar's government denies all the allegations. 

In the past, American Airlines has also had its differences with Qatar Airways, among other Middle Eastern carriers, over state subsidies the US air travel industry believes violate trade agreements. 

Last week, the International Civil Aviation Organization (ICAO), a UN body which regulates international air travel, said it would seek a "consensus-based solution" that addressed "current regional concerns" over the closure of airspace by the Saudi-led bloc.

The Qatar stake in the US carrier "does not alter American Airlines' conviction on the need to enforce the Open Skies agreements with the United Arab Emirates and the nation of Qatar and ensure fair competition with Gulf carriers, including Qatar Airways," American said in the filing.

It was one of several US carriers that had been pushing the Trump administration to denounce US 'Open Skies' agreements with Gulf carriers because of alleged government subsidies.

"American Airlines continues to believe that the President and his administration will stand up to foreign governments to end massive carrier subsidies that threaten the US aviation industry and that threaten American jobs," American said.

Shares of American shot up 5.2 percent in pre-market trading to $50.90.