AA Purchases Stock in Major Chinese Carrier

In a purchase of $200 million, American Airlines has acquired stock in China Southern Airlines – the largest of China’s three major airlines. In the official announcement Tuesday, China Southern Airlines said it will expand airport facilities and code-sharing under the U.S. legacy carrier. According to statement via USA Today, “the deal represents 2.76% of China Southern’s shares and requires regulatory approval.”

For more information on this story, visit USA Today.

[Photo: Shutterstock]