Isn’t retrospect a marvellous thing? Here is a prospective view on something that will over time be subject to retrospect. One day, we will look back at the Emirates-Qantas deal announced on Thursday and opine that it was a turning point.
It is too early to make that call, of course, but the deal itself is worthy of inspection now. It is a major move from two of the world’s most influential airlines. Emirates’ position in the industry needs no introduction. It is now the world’s largest international carrier. Qantas is no longer the international powerhouse it once was, but its CEO [Alan Joyce] is the chair of the industry’s trade association, IATA (International Air Transport Association). It sits on many of the most important committees in the industry and it has been a significant player in many of the air transport industry’s developments.
That includes alliances and “metal neutral” agreements with anti-trust immunity. The Qantas (QF)-British Airways (BA) deal was in fact the first of these arrangements. Judging from the announcements Thursday, that expertise will once again be put to use in negotiating what appears to be a very similar deal with Emirates.
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