...American Airlines Group Inc (NASDAQ:AAL), the world’s largest airline with over 6,700 flights per day to nearly 350 destinations in more than 50 countries around the globe, officially announced on Tuesday morning [Mar 28, 2017 @ 6:28am ] that it had purchased a $200 million stake in China Southern Airlines (ZNH).

Written by StockNews.com

...The move by AAL was necessary to address the “critically important” Chinese airline market and to protect its position as the world’s largest air carrier - a crown that could be in jeopardy in coming years, as China’s airline market accelerates. In fact, some industry experts believe the Chinese market will surpass that of America’s by 2024.

According to a statement from American Airlines:

Later in 2017, the two companies "expect to begin codeshare and interline agreements that will give customers access to many more destinations in China, as well as North and South America,”  That will mean several more destinations available for American travelers into smaller Chinese cities beyond Shanghai and Beijing.

...Year-to-date, AAL has declined -10.40%, versus a 4.51% rise in the benchmark S&P 500 index during the same period.

AAL currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #13 of 18 stocks in the Airlines category.