[DUBAI] Qatar Airways dropped a plan to invest in American Airlines Group Inc. following a chilly reception from the US carrier. Buying a stake "no longer meets our objectives," Qatar Airways said in an emailed statement Wednesday, alluding to the "latest public disclosure" by American without elaborating. The US carrier reported financial results July 28, capping an earnings season in which rising concerns about airlines' pricing power dragged industry stocks to their worst month in a year. The decision by Qatar Airways marks a victory for American Airlines chief executive officer Doug Parker, who called the proposed stake purchase "puzzling at best and concerning at worst". American, Delta Air Lines and United Continental Holdings have fought a running battle against Qatar Airways and two other Persian Gulf carriers, which US airline executives accuse of getting unfair advantages from US$50 billion in alleged government subsidies.