China Southern, American Airlines announce tie-up

China Southern Airlines said Tuesday it would sell almost a one-tenth stake to American Airlines in a $200 million tie-up that could see two of the world’s biggest carriers cooperate in a range of areas.

China Southern will sell more than 270 million, or 8.83 percent, of its Hong Kong-listed shares to American, according to a statement by the Chinese airline filed with the Hong Kong stock exchange.

As of end-2016, China Southern said it operated more than 2,000 flights in more than 40 countries while American operates 6,700 flights per day in more than 50 countries.

…

Article source: http://www.dailystar.com.lb//Business/International/2017/Mar-28/399452-china-southern-american-airlines-announce-tie-up.ashx