American Airlines is flying high Thursday morning.
Shares of the company are up almost 6% in premarket trading after Qatar Airways announced its plans to make a “significant investment” in the US-based airline. The investment would amount to roughly 10% of American Airlines, or about $81 million.
American Airlines has said the investment was not solicited, and would not change the board structure or strategy.
Qatar Airways was recently voted the best airline in the world.
American Airlines is up 10.26% this year, including the recent bump. Shares are trading at $51.25 before markets opened Thursday.
- Markets Insider