Qatar Airways buys 5pc stake in China Southern Airlines

AFP  |  Doha 

Airways said on Wednesday that it had acquired a five percent stake in Southern Airlines, as it seeks to establish itself in the Asian market.

Southern Airlines is one of China's "big three" carriers.

Airways also owns a 20 per cent stake in -- which holds under its umbrella -- as well as shares in LATAM Airlines Group, Italy's and Hong Kong based

The latest deal comes as seeks new partners and routes for the national due to an ongoing diplomatic dispute in the Gulf.

Since June 2017, Qatar has been politically and economically isolated regionally by Saudi Arabia, the and

These Gulf peers continue to impose a blockade, after accusing of supporting "terrorists" and being too close to Saudi Arabia's Shiite archrival -- charges Qatar denies.

The deal follows warming relations between and

Government officials in Qatar said in November that is now Doha's third largest trade partner, as bilateral exports and imports totalled more than USD 10 billion (more than 8.8 billion euros) in 2017.

Qatar chose to help build the USD 45 billion Lusail Stadium, an 80,000-seat arena that is meant to host the opening and final games of finals.

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First Published: Wed, January 02 2019. 21:55 IST