Economy

American Airlines acquiring stake in China Southern

American Airlines acquiring stake in China Southern

American Airlines Group agreed to acquire a minority stake in China Southern Airlines Co for US$200 million (S$278.8 million), cementing a partnership between the top carriers in the United States and Asia.

It announced that the two airlines expect to start interline and codeshare agreements later in 2017 that allows customers to travel to over 70 destinations beyond Shanghai and Beijing and for customers of China Southern access to almost 80 destinations beyond New York, San Francisco and Los Angeles. The companies have not reached a binding or definitive agreement and the cooperation may or may not proceed, China Southern said.

American Airlines and China Southern Airlines are presently in talks for a possible tie-up. China Southern Airlines has formed an extensive network with Guangzhou, Beijing, Urumqi and Chong Qing as its hubs, covering all of China, radiating throughout Asia and linking Europe, America, Oceania & Africa, building an worldwide network-oriented airline.

Ross Barkley: Everton manager Ronald Koeman warns midfielder he could be sold
A score of 2-2 never looked like being the eventual outcome and Ronald Koeman's side were in front again prior to the interval. Their only defeat in 18 Premier League home games over the a year ago came against Liverpool in December (W12, D5, L1).

The shares will be issued at HK$5.74 apiece, or at a 4.6 percent premium to the previous close. Cathay Pacific Airways, which is based in Hong Kong, owns stakes of flag carrier Air China.

The deal represents 2.76% of shares of China Southern Airlines, and it requires regulatory approval.

American Airlines (AA, Dallas/Fort Worth) is set to acquire a 2.68% stake in China Southern Airlines (CZ, Guangzhou) for a gross consideration of HKD1.55328 billion (USD199.962 million) the Chinese carrier has announced.

Employees on stand-by, officials drag off passengers from US flight
A video showing a man being forcibly dragged along the floor of a United Airlines aircraft has provoked anger from viewers. The dictionary said it saw a 1900% spike in searches for the definition of the word "volunteer" after the United incident.

The agreement will boost AAL's presence in China, while ZNH is the last of China's top three airlines to bring in a non-mainland Chinese strategic investor.

The carriers said they expect to begin codesharing on flights later this year, which enables passengers to earn and redeem frequent flyer miles from flights on both airlines.

American Airlines President Robert Isom said the airlines are looking forward to building a partnership to benefit their teams, customers, and communities around them.

Unusual Volume Spikes For: Hewlett Packard Enterprise Company (HPE)
NC now owns 12,172 shares of the company's stock valued at $288,000 after buying an additional 122 shares in the last quarter. The company has a market capitalization of $30.30 billion, a price-to-earnings ratio of 9.91 and a beta of 3.05.

"The strategic cooperation will stimulate other Chinese airlines to seek overseas partners", said Au. And Chinese air travel is expanding rapidly, creating huge demand for pilots and planes.


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