Just announced - source Wall Street Journal, AAP, Reuters and others.
Qatar Air (QR) overnight completed a transaction purchasing a 5% share of China Southern (CZ). The sale price is undisclosed but at current market value represents approximately USD $ 500m. The move is described as an additional defensive strategic move for QR and provides an additional foothold in the rapidly growing Chinese market. In a separately issued statement by China Southern (CZ), it is mentioned that QR may consider increasing its stake in CZ during 2019.
QR already holds a significant 20% stake in IAG (owner of BA, IB, EI and Vueling), 10% of South American carrier Latam, 10% of Cathay Pacific (CX) and 49% of Meridiana / Air Italy. QR's stake purchase in CZ is similar to the recently purchased American Airlines (AA) investment in CZ.
kimshep
kimshep
Qantas - Qantas Frequent Flyer
Member since 11 Oct 2014
Total posts 412
Just announced - source Wall Street Journal, AAP, Reuters and others.
Qatar Air (QR) overnight completed a transaction purchasing a 5% share of China Southern (CZ). The sale price is undisclosed but at current market value represents approximately USD $ 500m. The move is described as an additional defensive strategic move for QR and provides an additional foothold in the rapidly growing Chinese market. In a separately issued statement by China Southern (CZ), it is mentioned that QR may consider increasing its stake in CZ during 2019.
QR already holds a significant 20% stake in IAG (owner of BA, IB, EI and Vueling), 10% of South American carrier Latam, 10% of Cathay Pacific (CX) and 49% of Meridiana / Air Italy. QR's stake purchase in CZ is similar to the recently purchased American Airlines (AA) investment in CZ.
xtfer
xtfer
Virgin Australia - Velocity Rewards
Member since 14 Mar 2017
Total posts 159
This explains why CS pulled out of Skyteam. Will they be joining Oneworld, I wonder?