Middle Eastern carrier Qatar Airways is taking a 5% shareholding in China Southern Airlines.
China Southern has disclosed that the 5% shareholding comprises around 3.5% of ‘A’ shares and 1.5% of ‘H’ shares.
Qatar Airways states that it completed the purchase on 28 December.
The airline already holds stakes in IAG, Cathay Pacific, Air Italy and LATAM.
China Southern is “one of the most prestigious airlines” in the Chinese domestic market, says Qatar Airways chief Akbar Al Baker (pictured above left with China Southern Airlines chairman Wang Changshun).
It holds “massive potential” for co-operation, he adds.
“Given the complementary strengths and resources of each of China Southern Airlines and Qatar Airways, 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,” says Al Baker.
Source: Cirium Dashboard