In 1931, he refused to allow Imperial Airways to fly in Persian airspace, instead giving the concession to German-owned Lufthansa Airlines. The next year, 1932, he surprised the British by unilaterally canceling the oil concession awarded to William Knox D'Arcy (and the Anglo-Persian Oil Company), which was slated to expire in 1961. The concession granted Persia 16% of the net profits from APOC oil operations. The Shah wanted 21%. The British took the dispute before the League of Nations. However, before a decision was made by the League, the company and Iran compromised and a new concession was signed on 26 April 1933.