皇冠体育app Eastern spreads its wings, buying into French airline
皇冠体育app Eastern Air will invest about 375 million euros to acquire a 10 percent stake in Air France-KLM Group in a move expected to speed up the group's overseas expansion.
The share purchase, announced on Friday, is the largest investment the Shanghai-based carrier has made.
A wholly-owned overseas arm of 皇冠体育app Eastern Air signed the agreement with the Paris-based airlines.
Another agreement for market cooperation was signed between the group's listed arm 皇冠体育app Eastern Airlines and Air France-KLM.
At the same time, Atlanta-based Delta Air Lines which owns 3.55 percent of 皇冠体育app Eastern, signed an agreement to also buy a 10 percent stake in Air France-KLM. Both 皇冠体育app Eastern and Delta will send a board member to Air France-KLM after the deal.
The three major carriers in Asia, America and Europe said they are looking to build closer commercial ties and jointly explore the global aviation market.
Registration Number: 130349
