Doha : Qatar Airways Group has completed the acquisition of a five per cent stake in China Southern Airlines.
The on-market purchase includes certain A shares and H shares in the company.
Qatar Airways chairman, Ali Shareef Al Emadi, said: “Qatar Airways regards our shareholding in China Southern Airlines as an important part of our strategic investment in the largest airline in one of the world’s fastest growing aviation markets.”
This investment further supports Qatar Airways’ investment strategy which already includes its 20 per cent investment in International Airlines Group, its ten per cent investment in LATAM Airlines Group, its 49 per cent investment in Air Italy and its 9.99 per cent investment in Cathay Pacific.
Qatar Airways group chief executive, Akbar Al Baker added: “China Southern Airlines is one of the most prestigious airlines in the Chinese domestic market and an important market player in the world, with massive potential for cooperation in the future.
Given the complementary strengths and resources of each of China Southern Airlines and Qatar Airways, there are opportunities for us to work together and build a long-term relationship in ways that would bring benefits to customers of both airlines.
“The investment is a clear demonstration of Qatar Airways’ continued commitment to connecting travellers across all corners of the world in a way that is meaningful and convenient.
“Qatar Airways very much looks forward to the opportunity to deepen our working relationship with this great airline and further enhance the travel opportunities across the globe.”