jetstar - MEDIA RELEASE 6 January 2010(3 pages Jetstar and...

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Jetstar Airways Pty Limited ABN 33 069 720 243 1 6 January 2010 (3 pages) Jetstar and AirAsia form world first alliance In a world first for low cost airlines, Jetstar and AirAsia announced today they would form a new alliance that would reduce costs, pool expertise and ultimately result in cheaper fares for both carriers. The alliance brings together the Asia Pacific’s two leading low cost, low fare carriers and will focus on a range of major cost reduction opportunities and potential savings – to the benefit of customers throughout the region. Key to the agreement is a proposed joint specification for the next generation of narrow body aircraft, that will best meet the needs of the low fare customer of the future. Both airline groups will also investigate opportunities for the joint procurement of aircraft. Qantas Airways Chief Executive Officer Alan Joyce, Jetstar Chief Executive Officer Bruce Buchanan and AirAsia Group Chief Executive Officer Datuk Seri Tony Fernandes finalised the agreement in Sydney today. Qantas Airways Chief Executive Officer, Mr Alan Joyce, said the historic non-equity alliance would give Jetstar and AirAsia a natural advantage in one of the world’s most competitive aviation markets. “Jetstar and AirAsia offer unmatched reach in the Asia Pacific region, with more routes and lower fares than their main competitors, and this new alliance will enable them to maximise that scale,” Mr Joyce said. “Just as both carriers have pioneered the development of the low cost, long haul airline model, today’s announcement breaks the mould of traditional airline alliances and establishes a new model for achieving reduced costs and increased efficiency. “The aviation market in Asia is a growth market, and has proven resilient over the past 12 months, despite the tough operating environment, with significant growth in passenger numbers forecast in the region. “This partnership will ensure that both airlines can capitalise on these growth opportunities.” The agreement includes the development of cooperation in areas such as: Future fleet specification – both carriers will investigate opportunities for joint procurement of the
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This note was uploaded on 05/12/2010 for the course ECMT 1020 taught by Professor Bo during the Three '10 term at University of Sydney.

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jetstar - MEDIA RELEASE 6 January 2010(3 pages Jetstar and...

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