American Airlines might be spending some serious cash in China.
People familiar with the matter told Bloomberg that American Airlines is reportedly in advanced talks to invest $200 million in China Southern Airlines at a valuation of $10 billion.
According to the publication, American’s investment in the airline’s Hong Kong-listed shares will reportedly buy it a non-voting seat on China Southern’s board.
American’s perspective investment in China’s largest airline makes an incredible amount of sense.
Fort Worth, Texas-based American is a member of the Oneworld airline alliance that does not currently have a mainland Chinese member airline. (Cathay Pacific is read more >>>
Source : BusinessInsider.Com