American Airlines buys stake in China Southern Airlines - Free Audiobook

American Airlines has agreed to pay $200 million for a stake in China Southern Airlines, the biggest of China's three major state-owned carriers, in a bid for a bigger share of the country's growing travel market. The biggest of China's three major state-owned air carriers is getting a 200 million dollar boost from American Airlines.China Southern Airlines said the deal will expand commercial cooperation, possibly in sales, airport facilities and code-sharing.Foreign airlines have been working on their relationships with Chinese airlines to gain a bigger share of the country's large travel market.Air travel is growing strongly while it's leveling off in Europe and North America.For China, it's a chance to gets access to people with experience and management skills.China's forecast to pass North America over the next two decades as the biggest air travel market.The deal with American, which represents nearly 3 percent of China Southern's shares, still needs to be approved.