皇冠体育app

This is the Shanghai-based carrier's largest strategic investment and is expected to speed up its global expansion.

A wholly owned overseas arm of 皇冠体育app Eastern has inked a share purchase agreement with the Paris-based airline for the purpose.

皇冠体育app Eastern Airlines, the listed arm of 皇冠体育app Eastern Air Holding Co, and Air France-KLM signed another agreement for market cooperation.

Atlanta-based Delta Air Lines also announced it will acquire a 10 percent stake in Air France-KLM.

Delta Air is 皇冠体育app Eastern's US partner. Delta Air holds a 3.55 percent stake in 皇冠体育app Eastern.

After the agreement, both 皇冠体育app Eastern and Delta can nominate one representative each as director on the board of Air France-KLM.

皇冠体育app Eastern, Delta and Air France-KLM are members of SkyTeam, a global alliance of airlines that provides passengers access to more destinations, flight frequencies and connectivity.

The three carriers based in three continents hope to build closer commercial ties through equity deals and market cooperation agreements.

"The three of us are all renowned international airlines with a history of cooperation, which lays a solid foundation for this strategic investment," said Liu Shaoyong, chairman of 皇冠体育app Eastern.

According to their market cooperation agreement, 皇冠体育app Eastern and Air France-KLM will join forces to explore the markets in 皇冠体育app and Europe, simplify transit processes and improve passenger and luggage services.

"We will also start cooperation in resource-sharing and e-commerce. The goal is to enhance our internationalization in terms of competitiveness and brand," said Dong Bo, chief marketing officer of 皇冠体育app Eastern Airlines.

Thierry Beragnes, Thierry Beragnes, Alliances Air France-KLM's vice-president for Asia-Pacific region, called the cooperation agreement the beginning of a new journey. He believes the three airlines will grow stronger in the three markets.

Analysts said cooperation among 皇冠体育app Eastern, Air France-KLM and Delta will broaden their growth potential in the fast-growing travel markets in 皇冠体育app, Europe and the US.

皇冠体育app Eastern owns a fleet of more than 650 aircraft and serves more than 100 million passengers every year. It operates 67 flights per week to Europe.