China Eastern Airlines announced Friday it will invest 375 million euros (438 million U.S. dollars) to purchase a 10-percent stake of the European carrier Air France KLM to expand its European market.

 

中国东方航空公司周五宣布，将花3.75亿欧元（4.38亿美元）购买欧洲法航荷航集团10%的股份以开拓欧洲市场。

 

An overseas affiliate¹ of the Shanghai-based airline has signed two agreements with Air France KLM about the purchase and future market cooperation. It will also appoint a representative to the board of directors of the European airline.

 

The purchase will be the largest strategic investment for the Chinese airline.

 

Delta² Air Lines, which holds a 3.2-percent stake in China Eastern, will also buy a 10-percent stake in Air France KLM.

 

All three airlines are members of the SkyTeam Alliance.

 

The investment will help the three parties forge a closer global strategic partnership³ and enable them provide better services to customers, said Liu Shaoyong, chairman of China Eastern.

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