Sharechat Logo

Air NZ, Singapore Airlines codeshare gets Singapore regulator tick

Tuesday 22nd April 2014

Text too small?

The proposed codeshare between Air New Zealand and Singapore Airlines has been given the all clear from Competition Commission Singapore, meaning the accord is now subject only to sign-off from New Zealand's transport minister.

The commission found that any regulatory concerns were outweighed by the economic benefit, Air New Zealand said in a statement. The deal between the two state controlled airlines could start as soon as December once New Zealand transport minister Gerry Brownlee gives approval.

The Auckland-based airline and the Asian carrier plan to boost capacity between New Zealand and Singapore by 30 percent with the tie-up, which will see Air New Zealand return to the Asian city state for the first time since 2006, Air NZ said. The airline will take over five flights currently operated by Singapore Airlines, which will maintain its daily Singapore-Christchurch service as part of the deal.

Last month Jetstar, the discount unit of Australian airline Qantas Airways, announced it was abandoning the Auckland-Singapore route after trimming flights to three times a week 18 months ago amid falling demand.

Air New Zealand and Singapore Airlines are both major shareholders in Australia's Virgin Airlines, along with fellow Air NZ partner Etihad Airways.

Singapore Airline passengers will be able to travel across Air New Zealand domestic and some international routes, while customers with Air New Zealand will have access to similar codeshare travel across Singapore Airline's South East Asia, UK, Europe and Africa networks.

Air NZ stock last traded at $2.07 and have surged 26 percent this year.

 

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report