All aboard: American Airlines takes $200 million stake in China Southern [Yahoo! Finance News]
China Southern Airlines Company Limited (ZNH)
US:NYSE Investor Relations:
csair.com/en/about/investor
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Source: Yahoo! Finance News
HONG KONG/SHANGHAI (Reuters) - China Southern Airlines Co Ltd said on Tuesday it would issue HK$1.55 billion ($199.6 million) worth of shares to a subsidiary of American Airlines Group Inc (AAL.O), giving the U.S. airline a stake in China's largest carrier. The deal would make American Airlines the second U.S. carrier to own part of a Chinese airline after Delta Air Lines Inc (DAL.N) bought 3.55 percent of China Eastern Airlines Corp for $450 million in 2015. It also means that China's three biggest airlines now all have tie-ups with foreign airlines, something Beijing has encouraged as a way to boost the sector's global competitiveness.
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