Infratil completes sale of Lübeck Airport
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Lufthansa and Etihad: equity tie up could further align mutual strategy, but marriage unlikely
Greater cooperation between Lufthansa and Etihad reflects their local and global challenges growing in quantity and complexity. Contact between the two has led to speculation that the partnership could radically expand to include an equity tie up, with rumoured merger talks.
Their initial Dec-2016 codeshare announcement was, in practical terms, small but showed the possibility, as they stated, to expand cooperation. However, it would be a leap to go from their handful of codeshares to a 17-Jan-2017 article from Italian daily newspaper Il Messaggero that Etihad could invest in Lufthansa on the way to a possible merger between the two. A subsequent denial in a Reuters story that "A financial stake is out of the question at the moment", does little to dispel the rumour. Were it not for the last three words of that statement the rumour would lack credibility.
There is certainly logic for a deeper partnership - and the two have danced this waltz before. Equity involvement from airlines can cement partnerships, add to board influence and partially allow one side to gain financially from any matter it feels it is compromising away. Nevertheless, there are obstacles to a full blown merger, and even to Etihad's taking a 30% to 40% stake. A marriage between the new bedfellows does not seem an immediate prospect. Nonetheless the logic is there for a move; and the mere fact of a potential move is sufficient to rock the equilibrium.
United Airlines reduces seasonal capacity in the competitive US-New Zealand/Australia market
After rapid growth in the market between North America and Australia/New Zealand, an airline has finally blinked: United Airlines will change its sole New Zealand service, San Francisco-Auckland, to only operate seasonally. United will rely on its JV partner Air New Zealand.
Auckland is less important for United than for American Airlines and its codeshare (but not JV) partner Qantas. Qantas has exited the Auckland-Los Angeles market, so American's entry to New Zealand gives it two nonstops from both Australia and New Zealand, enhancing presence across the region and making it easier to bring American visitors to both Australia and New Zealand.
United's adjustment to a seasonal service will mean that the New Zealand-North America (excluding Hawaii) market will expand by a reduced 10% instead of 17%. Even with this downward change there will be 17% more capacity than in the previous record year of 2008.