American Airlines to acquire 2.68% stake in China Southern Airlines

China Southern Airlines and American Airlines Group signed (28-Mar-2017) a share subscription agreement in which American will acquire a minority stake in China Southern for USD200 million. Under the agreement, China Southern will sell 270.6 million H shares to American at HKD5.74 (USD0.74) per share. American will hold 2.68% of China Southern's total issued shares. The airlines have also agreed to cooperate in the areas including codeshare, transport agreement, personnel/experience exchange, sales, passenger loyalty programme and airport facilities sharing. [more - original PR - Chinese]