Qatar Airways acquires 5 percent stake in China Southern Airlines
Jan 03, 2019: Last week, Qatar Airways has acquired 5 percent stake in China Southern Airlines.
According to its official release, the airline group has completed an on-market purchase of certain A shares and H shares of China Southern Airlines, resulting in aggregate holding of approximately 5 percent of the total issued share capital of China Southern Airlines.
Ali Shareef Al Emadi, chairman, Qatar Airways said: "Qatar Airways regards our shareholding in China Southern Airlines as an important part of our strategic investment in the largest airline in one of the world’s fastest growing aviation markets.”
Akbar Al Baker, Qatar Airways’ Group chief executive added: “China Southern Airlines is one of the most prestigious airlines in the Chinese domestic market and an important market player in the world, with massive potential for cooperation in the future. 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. Qatar Airways very much looks forward to the opportunity to deepen our working relationship with this great airline and further enhance the travel opportunities across the globe."
The Doha-based airline has taken 20 percent share stake in International Airlines Group, 10 percent investment in LATAM Airlines Group, 49 percent investment in Air Italy and 9.99 percent investment in Cathay Pacific.