china eastern airlines to acquire 10
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

From Air France-KLM

China Eastern Airlines to acquire 10%

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleChina Eastern Airlines to acquire 10%

Air France-KLM
Beijing - Muslimchronicle

China Eastern Airlines said Friday it is set to acquire a 10 percent stake in Air France-KLM, as it moves to expand its network in Europe.

The state-owned company will pay about 375 million euros ($438.5 million) for its share in the French-Dutch airline, it said in a filing to the Hong Kong stock exchange.

American carrier Delta will also acquire a ten percent stake in Air France-KLM, the statement said.

The "three companies will build a global network of airlines and will provide more convenient, efficient and high-quality travel services for passengers around the world", the statement said, adding that the deal will also allow China Eastern "to extend and expand its route network", develop new markets and improve its brand image.

China's Civil Aviation Administration has encouraged Chinese airlines to build up their presence abroad and become internationally recognised brands.

Beijing has traditionally encouraged companies to invest overseas to find new markets, access technology and increase China Inc's influence, although authorities have recently taken a tougher stance as concerns grow over capital flight and unsound acquisitions.

The deal will "give Air France-KLM a European leadership position on Shanghai, the main business market in China," the European carrier said.

On Thursday, Air France-KLM said it would also acquire a 31 percent stake in Virgin Atlantic for around 220 million pounds ($287 million, 246 million euros).

"The operation is expected to take place in 2018 after approval by the appropriate regulatory authorities," Air France-KLM said in a statement.

The deal will make the airline Virgin Atlantic's second biggest shareholder after Delta Airlines, which holds 49 percent.

Source: AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china eastern airlines to acquire 10 china eastern airlines to acquire 10

 



Themuslimchronicle, themuslimchronicle

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 21:30 2017 Wednesday ,01 November

New York Times’ third-quarter revenue up 6.1%

GMT 11:09 2017 Friday ,24 November

Berlin police seeking more missing John Lennon items

GMT 06:34 2017 Saturday ,09 December

Rockets down Jazz for eighth straight NBA win

GMT 23:25 2017 Thursday ,16 February

Pakistan adds 16 new fighter jets to its fleet

GMT 10:50 2018 Tuesday ,23 January

Saudi university to open driving school for women

GMT 03:31 2017 Saturday ,07 January

Sharjah launches award for refugee support

GMT 21:54 2016 Wednesday ,01 June

December 21 - January 18

GMT 16:05 2017 Monday ,24 April

Sharapova's return divides rivals

GMT 13:50 2012 Sunday ,22 January

Egyptians can now remove any regime

GMT 07:26 2017 Sunday ,23 July

70 villagers kidnapped in Afghanistan
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle