MAp reached (07-Oct-2011) financial close for the asset swap agreement with Ontario Teachers’ Pension Plan Board. As a result, MAp has increased its interest in Sydney Airport to approximately 85% and disposed of its entire interests in Copenhagen Airports and Brussels Airport. [more - original PR]
MAp reaches financial close of asset swap
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Lufthansa to complete takeover of Brussels Airlines for possible integration into Eurowings
Lufthansa's supervisory board has approved the exercise of its call option to buy the remaining 55% of SN Airholding, the parent company of Brussels Airlines. Lufthansa acquired 45% of the company in 2009 and negotiated the option to buy the balance of the shares for no more than EUR250 million. The deal is expected to close in early 2017, once the details of the purchase have been agreed with the other SN Airholding shareholders.
Lufthansa and Brussels Airlines have an extensive codeshare agreement and are partners in the Star Alliance. Their existing relationship is such that Brussels Airlines already feels like a member of the Lufthansa Group. The main draw for Lufthansa has always been its Belgian partner's extensive African network (it is the number two airline on Western Europe-Central/Western Africa).
However, it now seems that Lufthansa will, at least partly, integrate Brussels Airlines into its Eurowings low cost brand. Lufthansa is keen to accelerate Eurowings' expansion through partners (and is also to wet-lease up to 35 aircraft from airberlin). Brussels Airlines' fleet and single-class configuration on short/medium haul should fit with Eurowings, but its unit cost and network airline business model are not characteristic of an LCC.
Singapore Airlines to launch Jakarta-Sydney, further intensifying SE Asia-Australia competition
Singapore Airlines (SIA) will launch services from Jakarta to Sydney in Nov-2016, resulting in new competition for rivals Garuda Indonesia and Australia’s Qantas Airways. SIA’s entrance on the Jakarta-Sydney route is a strategic move and highlights its desire to pursue new areas of growth.
The Indonesia-Australia market is a logical market for SIA as it seeks to diversify its business. Indonesia and Australia are already SIA’s two largest international markets and Garuda and Qantas are already among its biggest competitors.
Competition within Asia Pacific, including the Southeast Asia-Australia market, has been intensifying. In the current highly competitive and challenging environment airlines are constantly jockeying and exploring new options to improve their position.