American Airlines buys China Southern stake as traffic booms
Transaction is about code sharing and putting China passengers onto US aircraft, says an analyst
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Hong Kong
AMERICAN Airlines is set to become the second big carrier in the United States to buy its way into capturing more of the big and growing business of flying to China.
China Southern, the biggest airline in China, the world's most populous country, said on Tuesday morning in Hong Kong that it had reached a deal to sell a US$200 million minority stake to American as the airlines move forward with a strategic cooperation. The deal ties American, one of the United States' big three carriers, together with one of China's big three state-run airlines.
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