China Southern Airlines (ZNH) Confirms Potential Major Strategic Deal with American Airlines (AAL)
China Southern Airlines Co. Ltd. (NYSE:ZNH) confirmed Sunday in a Hong Kong stock exchange filing that the company is in talks over a potential major strategic deal with giant American Airlines Group Inc. (Nasdaq:AAL).
According to the filing, the deal could involve a share issue by China Southern Airlines and other forms of business cooperation.
ZNH stock surged to touch a new 52-week high of $36.95 in intraday trading Friday, finally closing at $35.13, up 2.90% (or +$0.99) with a total volume of 46,935 shares traded.
China Southern Airlines, which provides air transportation services in the People’s Republic of China and internationally, has 196.35M shares outstanding, market capitalization (intraday) of $6.90B and ZNH stock one-year range is now between $25.60 and $36.95 per share.
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