UPDATE 2-China Southern Airlines to quit SkyTeam alliance next year [Reuters]
China Southern Airlines Company Limited (ZNH)
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Source: Reuters
China Southern Airlines to quit SkyTeam alliance next year | Reuters 3 Min Read SHANGHAI/SINGAPORE (Reuters) - China Southern Airlines ( 600029.SS ) ( 1055.HK ) said it will leave the SkyTeam airline alliance on Jan. 1 next year to meet the needs of the company’s own development strategy. SkyTeam is one of the world’s three major airline alliances and had two big Chinese carriers, China Southern and rival China Eastern Airlines Corp Ltd ( 600115.SS ), as members, which is unusual given they operate in the same market. The three alliances, which also include Star Alliance and oneworld, provide recriprocal benefits for passengers such as lounge usage and frequent flyer points and give airlines transfer passengers from partners in a boost to revenue. China Southern, the country’s largest airline by passenger numbers, is leaving SkyTeam because it believes it is expensive relative to the benefits of membership, a source at the airline told Reuters on condition of anonymity. It will
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