Latest Aviation News Air transport QATAR AIRWAYS BUYS 5% STAKE IN CHINA SOUTHERN AIRLINES

Qatar Airways buys 5% stake in China Southern Airlines

AFP
03/01/2019 | 276 words
Qatar Airways buys 5% stake in China Southern Airlines
Qatar Airways

Qatar Airways said on Wednesday that it had acquired a five percent stake in China Southern Airlines, as it seeks to establish itself in the Asian aviation market.

The state-owned airline said in a statement the deal was part of its "strategy to invest in the strongest airlines around the world", but did not specify the cost of the transaction.

China Southern Airlines is one of China's "big three" carriers.

Qatar Airways also owns a 20 percent stake in International Airlines Group -- which holds British Airways under its umbrella -- as well as shares in LATAM Airlines Group, Italy's Meridiana and Hong Kong based Cathay Pacific.

The latest deal comes as Qatar seeks new partners and routes for the national airline due to an ongoing diplomatic dispute in the Gulf.

Since June 2017, Qatar has been politically and economically isolated regionally by Saudi Arabia, the United Arab Emirates and Bahrain.

These Gulf peers continue to impose a blockade, after accusing Doha of supporting "terrorists" and being too close to Saudi Arabia's Shiite archrival Iran -- charges Qatar denies.

The aviation deal follows warming relations between Doha and Beijing.

Government officials in Qatar said in November that China is now Doha's third largest trade partner, as bilateral exports and imports totalled more than $10 billion (more than 8.8 billion euros) in 2017.

Qatar chose China Railway Construction Corporation to help build the $45 billion Lusail Stadium, an 80,000-seat arena that is meant to host the opening and final games of the 2022 World Cup finals.

 
 
 
Related articles

Qatar Airways commits to Iran flights despite sanctions

Qatar Airways files $69 million loss amid Gulf crisis

Qatar Airways to expand despite 'large loss': chief

The longest flights in the world

16/01 The main mergers, acquisitions and consolidations in the MRO industry
16/01 ATR invests in continuous improvement
16/01 Monarch Aircraft Engineering goes bust
16/01 First Pratt & Whitney GTF engine to be overhauled in South East Asia
16/01 Vietnam's newest airline Bamboo takes first flight
14/01 China envisions moon base after far-side success
21 JAN 2019
DASSAULT AVIATION acquires the global maintenance activities of EXECUJET, a subsidiary of the LUXAVIATION group since 2015, subject (...)
17 JAN 2019
The AJW group has acquired a BOEING 777-200LR powered by GE90 engines. The aircraft will be dismantled and (...)
09 JAN 2019
PORTER AIRLINES will open a maintenance base at Thunder Bay Airport in February. It will be set up (...)
09 JAN 2019
WEST ATLANTIC UK has signed a contract extension with KLM UK ENGINEERING for airframe maintenance. The latter will (...)
03 JAN 2019
On December 3 at 02: 26 UTC, the Chinese National Space Administration (CNSA) CHANG'E-4 probe landed as planned (...)
ALERTAVIA, the News platform for Aerospace and Defense industry Professionals.

Featured Content
AFI KLM E&M steps up a gear on CFM's LEAP
Sabena technics finally gets back on-board C-130Hs
Airbus and Thai Airways to launch a new joint venture MRO facility at U-Tapao
How Thai Airways will Expand Rolls-Royce's Trent Engine Service Network
China embarks on board aircraft recycling
LATEST NEWS   CIVIL AEROSPACE   MRO & SUPPORT   AIR TRANSPORT   DEFENCE   SPACE
Follow us
© 2019 Le Journal de l'Aviation - All rights reserved

By continuing to use the site, you agree to the use of cookies. You can find out more by following this link.  OK  Find out more