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FinancialNews


  • 03-01-19

    Qatar Airways buys 5 percent stake in Chinese airline

    (MENAFN) Qatar Airways was announced to have purchased 5 percent of stake in China Southern Airlines, aiming to accelerate its efforts to tap into the Chinese market.

    The Qatari flag carrier, according to China Southern, could potentially mull over the possibility of booting its stake in the airline over the coming twelve months.

    The airline's CEO Akbar al-Baker confirmed the existence of a potential for "us to work together and build a long term relationship in ways that would bring benefits to customers of both airlines."

    The acquisition has the capability to reinforce the status of China Southern in the Chinese market since it a leading competitor of Cathay Pacific in Greater China, stated director of Asia transport at UOB Kay Hian, Ajith K.

    MENAFN0301201900450000ID1097917771

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