China Southern Airlines said on Tuesday it will sell a small stake to American Airlines Group in a $200 million deal that will give the carriers better access to the world’s two largest travel markets.
China Southern will issue new shares worth HK$1.55 billion ($199.6 million) to American Airlines (AAL, +0.02%), making American the second U.S. carrier to own part of a Chinese airline after Delta Air Lines (DAL, +0.22%) bought 3.55% of China Eastern Airlines for $450 million in 2015.
