iksu From Finland, joined Nov 2011, 12 posts, RR: 0 Posted (1 year 1 month 2 weeks 3 days 9 hours ago) and read 4420 times:
I think this is really significant for Finnair as currently they have only their own HEL-JFK route and by the end of the year it will be over 100 trans Atlantic flights with AY flight number with joint venture partners! After all the focus into Asia I see this as an excellent way to move forward into west and not only east. It's great to see this kind of cooperation and I only wonder if AY will have even deeper bonds with IAG in the future?
Quote from the press release:
American Airlines, British Airways and Iberia celebrate a key milestone today as fellow oneworldÂ® alliance member Finnair announces its intent to join the transatlantic joint business, established by the three airlines in October 2010.
Once Finnair joins the transatlantic joint business later this year, customers in North America and Europe will have increased choice of flights and services as well as more convenient connections to flights across the Atlantic.
iksu From Finland, joined Nov 2011, 12 posts, RR: 0
Reply 2, posted (1 year 1 month 2 weeks 3 days 9 hours ago) and read 4375 times:
I find it interesting that this happened now when the government after so many years of not wanting to sell AY stocks, have recently been talking about selling stocks for AY to find a partner Just my personal conspiracy theory
GCT64 From United Kingdom, joined Nov 2007, 1324 posts, RR: 1
Reply 4, posted (1 year 1 month 2 weeks 3 days 7 hours ago) and read 4025 times:
As the JV means joint sharing of profits and losses (based presumably on the proportion of the business that they are responsible for) then it means:
A. Finnair will only be exposed to a small part of the P&L on its own flight(s).
B. Finnair will benefit (in a very small percentage) from the totality of AA/BA/IB/AY TATL profits or lose (in a very small percentage) if the totality of AA/BA/IB/AY TATL makes a loss.
Essentially they are moving their risk/exposure from being focused on the P&L of their own flight(s) and spreading that risk thinly across the whole of the JV's TATL flights.
The positive/negative effect on IAG and AA will be negligible.
But I think the bigger message, as noted above, is "expect IAG to buy/try to buy AY"