June 6, 2018 / 7:30 AM / a year ago

Air China, Air Canada to sign joint venture agreement

BEIJING, June 6 (Reuters) - Air China Ltd and Air Canada on Wednesday said they will sign a joint venture agreement, marking the Chinese state airline’s first such deal with a North American carrier.

The companies made the announcement in statements handed out before an event in Beijing. Air Canada previously said it expected the deal to be wrapped up in spring.

The two carriers already have agreements to codeshare and allow passengers to use each other’s lounges, but a full joint-venture would expand such collaboration. Air Canada has said this would help it compete more “aggressively”. (Reporting by Philip Wen; Writing by Brenda Goh)

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