Qatar Airways takes 5% stake in China Southern
02 / 01 / 2019
Qatar Airways Group has acquired a 5% share stake in China Southern Airlines.
The Middle East carrier said that the purchase of China Southern A and H shares continues a strategy to invest in “the strongest airlines around the world and continue enhancing operations and network connectivity”.
Latest available fleet data indicates that China Southern operates eight Boeing 777Fs and one Airbus A300-600F.
According to its website, Qatar Airways Cargo currently operates 15 Boeing 777Fs, eight Airbus A330Fs and two Boeing B747-8Fs. It has on order a further eight A330Fs as well as eight Boeing 777Fs (three firm orders and five letters of intent).
This latest share stake by Qatar Airways is in addition to a 20% investment in British Airways and Iberia parent International Airlines Group, its 10% investment in LATAM Airlines Group, a 49% stake in Air Italy and a 9.99% investment in Cathay Pacific.
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.”
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.:
Al Baker continued: 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."