Qatar wants a slice of China’s huge aviation market
London (CNN Business)Qatar Airways is buying into the one market no major airline can ignore: mainland China.
The state-owned Gulf airline said Wednesday that it has acquired 5% of China Southern Airlines (ZNH), the country’s largest carrier. US rivals American Airlines (AAL) and Delta (DAL) already have stakes in China Southern and China Eastern (CEA), respectively.
Qatar Airways said it acquired its stake by purchasing China Southern shares on the Hong Kong and Shanghai stock markets. It’s the first major investment in mainland China by Qatar Airways.
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