China Eastern Air Holding Co is to acquire a 10% stake in Air France-KLM Group for about €million. This is the Shanghai-based carrier’s largest strategic investment and is expected to speed up its global expansion. Both airlines also signed a separate agreement for market cooperation. Atlanta-based Delta Air Lines also announced it will acquire a 10% stake in Air France-KLM. Delta Air is China Eastern’s U.S. partner, and holds a 3.55% stake in China Eastern. China Eastern and Delta will each have one representative on the board of Air France-KLM. China Eastern, Delta and Air France-KLM are members of SkyTeam. China Eastern and Air France-KLM will simplify transit procedures, improve passenger and luggage services, and share some resources. China Eastern has a fleet of more than 650 aircraft and serves more than 100 million passengers every year. It operates 67 flights per week to Europe, the China Daily reports.