USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Companies

China Eastern buys 10% stake in Air France KLM

Xinhua | Updated: 2017-07-28 15:14

SHANGHAI - China Eastern Airlines announced Friday it will invest 375 million euros ($438 million) to purchase a 10-percent stake of the European carrier Air France KLM to expand its European market.

An overseas affiliate of the Shanghai-based airline has signed two agreements with Air France KLM about the purchase and future market cooperation. It will also appoint a representative to the board of directors of the European airline.

The purchase will be the largest strategic investment for the Chinese airline.

Delta Air Lines, which holds a 3.2 percent stake in China Eastern, will also buy a 10 percent stake in Air France KLM.

All three airlines are members of the SkyTeam Alliance.

The investment will help the three parties forge a closer global strategic partnership and enable them provide better services to customers, said Liu Shaoyong, chairman of China Eastern.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US