QATAR Airways has purchased five per cent of Guangzhou-based China Southern Airlines as part of its plan to invest in the 'strongest' carrier, reports Bloomberg
QATAR Airways has purchased five per cent of Guangzhou-based China Southern Airlines as part of its plan to invest in the 'strongest' carrier, reports Bloomberg. 'There are opportunities for us to work together and build a long-term relationship,' said Qatar CEO Akbar Al Baker.
The Middle Eastern carrier now holds 613.36 million shares of the state-owned Chinese carrier, of which 183 million are listed in Hong Kong, according to a filing by China Southern.
The purchase is in line with Qatar Air's strategy of blue-chip deals that have seen it buy 20 per cent of British Airways owner IAG, 10 per cent of South American carrier Latam Airlines Group and a similar stake in Cathay Pacific.
The investment could boost Qatar Air as China is projected by the International Air Transport Association to surpass the US as the world's biggest aviation market within five years.
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