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China Southern Airlines to sell $200 mln shares to American Airlines


[Reuters] - HONG KONG/SHANGHAI, March 28 (Reuters) - China Southern Airlines Co Ltd said on Tuesday it would issue HK$1.55 billion ($199.6 million) worth of shares to a subsidiary of American Airlines Group Inc, giving the U.S. airline a stake in China's largest carrier. The deal would make American Airlines the second U.S. carrier to own part of a Chinese airline after Delta Air Lines Inc bought 3.55 percent of China Eastern Airlines Corp for $450 million in 2015. In a filing to the Hong Kong stock exchange, China Southern said it would issue 270.61 million Hong Kong-listed H-shares, representing 2.68 percent of the enlarged share capital of the airline.


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