China Southern Airlines confirms $200m stake sale to American Airlines

Listen to this article


China Southern Airlines confirmed it will sell more than 270m shares worth HK$1.5bn ($200m) to American Airlines.

China Southern said in a filing to the Hong Kong stock exchange that the two airlines “may seek to increase cooperation in codesharing, transport sharing agreement, staff/experience sharing, sales, passenger loyalty program, and airport facilities sharing”.

Shares in China Southern Airlines hit a 15-month high yesterday of HK$5.49 after the carrier said it was in talks with American Airlines regarding a possible stake sale.

China Southern, the biggest airline in Asia by passengers carried, revealed on Monday that it was “in the negotiation of a possible strategic cooperation” with AA that could take the form of a share sale and other business cooperation.

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from and redistribute by email or post to the web.