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Qatar Airways acquires 5 percent stake in China Southern

DUBAI, United Arab Emirates (AP) – Qatar Airways says it now holds a 5 percent share in China Southern Airlines, helping expand the Gulf carrier’s reach in one of the world’s fastest-growing aviation markets.

Qatar Airways Group said Wednesday the acquisition of additional shares of China Southern supports its overall investment strategy. The Mideast carrier has a 49 percent stake in Air Italy, nearly 10 percent in Cathay Pacific and LATAM Airlines Group, and a 20 percent investment in International Airlines Group — the holding company for British Airways among others.

China Southern Airlines is a member of SkyTeam, an alliance that includes Delta, KLM, Air France and others.

Despite losses off its revenue last year due to a boycott from neighboring Gulf states, Qatar Airways maintains it is the “world’s fastest growing airline.”

 

 

 

FILE – In this Jan. 15, 2015, file photo, a new Qatar Airways Airbus A350 approaches the gate at the airport in Frankfurt, Germany. Qatar Airways joined two other major long-haul Gulf carriers on Thursday, July 6, 2017 in getting off a U.S. ban on laptops and large electronics in airplane cabins, despite facing logistical challenges amid the country’s diplomatic dispute with several Arab nations. (AP Photo/Michael Probst, File)
  • Associated Press

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