Reports claim American Airlines is mulling stake in Chinese airline
American Airlines is reportedly mulling a $200 million investment in China Southern Airlines.
Bloomberg reports talks are advanced and the stake would give American a non-voting seat on China Southern’s board.
People familiar with the matter tell Bloomberg talks are at an advanced stage.
The airline’s shares were suspended due to a ‘possible major strategic cooperation’ yesterday, according to a filed stock exchange statement.
China Southern Airlines is the largest carrier in China and is valued at about $10 billion.
Neither airline has made a public comment.
If it happens American would follow Delta Air Lines by investing in what will become the world’s largest aviation market in the next few years.
Delta took a small stake in China Eastern Airlines in 2015.
Delta and China Southern are members of the SkyTeam airline alliance while American is part of rival Oneworld, which currently does not have a China-based partner.
IATA projects China to overtake the US as the world’s largest aviation market based on passenger numbers by 2024.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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