Qatar Airways Buys China Southern Stake
Qatar Airways has taken a 5 percent shareholding in Guangzhou-based carrier China Southern Airlines.
The share purchase, which was completed on December 28, comprises a mix of A and H shares Qatar Air said but gave no costing of the acquisition.
Qatar Group chief executive Akbar Al Baker said “China Southern Airlines is one of the most prestigious airlines in the Chinese domestic market and an important market player in the world.”
Al Baker said that with the complementary strengths and resources of the two airlines “there are opportunities for us to work together and build a long-term relationship in ways that would bring benefits to customers of both airlines.”
Qatar’s investment in China Southern adds to its portfolio of airline investments, which include a 20 percent stake in British Airways and Iberia parent IAG, 10 percent of LATAM Airlines Group, a 9.9 percent shareholding in Cathay Pacific and 49 percent in Air Italy.
American Airlines currently holds a USD$200 million stake in China Southern.