Lufthansa and ANA begin strategic JV; Dart Group shares up
Lufthansa and All Nippon Airways have announced they are launching a strategic JV on Japan-Europe routes after ANA received antitrust immunity approval from Japan's MLIT. The carriers aim to introduce the new JV within the 2011 winter timetable.
The JV between Lufthansa and ANA will allow the carriers to work together on schedule coordination and joint product sales. The carriers aim to introduce the new JV within the 2011 winter timetable. The Asian market is a major growth market for Lufthansa and represents around 20% of its revenue, with Japan alone contributing 4% of revenue.
Lufthansa shares eased 0.5% yesterday. Shares in Dart Group, parent of Jet2.com, were up 7.6%.
Selected EAD daily share price movements (% change): 01-Jun-2011