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Qatar Airways Acquires 5 Percent of China Southern Airlines

January 02, 2019 / Reuters

Qatar Airways has acquired a 5 percent stake in China Southern Airlines (600029.SS), the state-owned Gulf carrier said on Wednesday, in a move to gain access to the fast-growing mainland Chinese market. Qatar Airways also owns a 20 percent stake in British Airways-parent International Consolidated Airlines Group (ICAG.L), 10 percent of South America’s LATAM Airlines Group SA (LTM.SN), 49 percent of Italy’s Meridiana and 9.99 percent stake in Hong Kong’s Cathay Pacific (0293.HK). Qatar’s flagship airline has sought new partners and routes after it was blocked last year from flying to the lucrative markets of Saudi Arabia and the United Arab Emirates because of restrictions imposed by those countries.