american airlines to buy stake in china carrier
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

American Airlines to buy stake in China carrier

Arab Today, arab today

Arab Today, arab today American Airlines to buy stake in China carrier

American Airlines is the world’s biggest airline in terms of revenue by kilometres flown
Shanghai - AFP

American Airlines is in advanced talks to buy a $200 million stake in Asia’s biggest airline China Southern, reports said Thursday, as it looks to get a shoo-in to the country's huge aviation market.
The Texas-based company plans to take the stake in the Chinese firm's Hong Kong-listed shares through a private placement, Bloomberg News reported, quoting people familiar with the matter.
China Southern suspended its stocks traded in both Hong Kong and Shanghai on Thursday morning pending a "possible major strategic cooperation", exchange statements said.
China Southern has a total market capitalisation of HK$15 billion ($2 billion) in Hong Kong, exchange data shows.
American is the world’s biggest airline in terms of revenue by kilometres flown, while China Southern is the fifth largest and number one in Asia, according to the latest available rankings by the International Air Transport Association.
The move comes as increasing demand for air travel among China's growing middle class is expected to make it the world's biggest aircraft market in the coming years.
If the deal goes through, American will be able to take a seat at the board of China Southern without voting rights.
The report buoyed share prices of two other major Chinese airlines Thursday. China Eastern jumped 4.71 percent in Hong Kong and more than two percent in Shanghai, while flag carrier Air China rose four percent in Hong Kong and more than three percent in Shanghai.
American Airlines' earnings plunged in the final quarter of last year, with net profit dropping to $289 million from $3.3 billion in the same period last year.
China Southern is scheduled to release its 2016 earnings on March 31.


Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

american airlines to buy stake in china carrier american airlines to buy stake in china carrier

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

american airlines to buy stake in china carrier american airlines to buy stake in china carrier

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms

GMT 19:56 2017 Thursday ,09 March

Qatar Pavilion Opens at ITB Berlin

GMT 23:34 2013 Thursday ,07 February

New BMW 3 Series Gran Turismo

GMT 12:57 2017 Friday ,13 October

JPMorgan open to digital money if regulated

GMT 04:38 2017 Friday ,10 March

ADNOC opens fifth ADNOC Xpress

GMT 10:30 2017 Friday ,10 November

BDF military contingent honoured

GMT 17:37 2017 Tuesday ,24 January

China jails former Sinopec president for graft

GMT 19:34 2017 Sunday ,14 May

Austria centre-right calls for snap elections

GMT 14:54 2014 Saturday ,29 November

Wall cladding, wallpaper, fabric and wood!
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday