Qatar Airways acquires 5% of China Southern Airlines

Monday, 7 January 2019 02:01 - - {{hitsCtrl.values.hits}}

Qatar Airways Group Chief Executive Akbar Al Baker and China Southern Airlines Company Chairman Wang Changshun

Qatar Airways has completed an on-market purchase of certain A shares and H shares of China Southern Airlines. As a result, Qatar Airways now holds approximately 5% of the total issued share capital of China Southern Airlines.

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 a 20% investment in International Airlines Group, 10% investment in LATAM Airlines Group, 49% investment in Air Italy and 9.99% investment in Cathay Pacific.

Akbar Al Baker said: “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.”