JAL stays with American
By Harry R. Weber and Tomoko A. Hosaka |
February 10, 2010, Wednesday
|
Print Edition
Print Edition
JAPAN Airlines, wooed for months by Delta Air Lines with promises of cash and a broad global network, spurned the world's biggest carrier and opted to keep its alliance with American Airlines.
The Japanese carrier said in a statement yesterday it will strengthen its partnership with American and the two airlines will jointly ask the United States and Japanese governments for antitrust immunity on trans-Pacific routes.
The decision brings to an end a fierce tug-of-war over Japan's ailing flagship carrier, which is restructuring under bankruptcy but offered the US airlines access to lucrative Asian routes.
Delta and its partners offered JAL US$1 billion to leave Oneworld. American and its partners said they would give JAL as much as US$1.4 billion to stay.
American's victory seemed improbable just a few weeks ago when Japanese officials, convinced of the long-term revenue benefits, were pushing JAL toward Delta and its SkyTeam partners. But after taking over last month, new JAL Chairman Kazuo Inamori insisted that management would reevaluate both proposals from scratch.
JAL's loyalties swung back to American, likely because of worries that regulators would not grant antitrust immunity to a Delta-JAL partnership due to competition concerns. Immunity is the key to a closer revenue-sharing tie-up between US and Asian carriers.
JAL President Masaru Onishi said the Tokyo-based company analyzed the issue "in great detail."
He said management "firmly believed that the advantages of this development with American Airlines can strongly support JAL."
The Japanese carrier said in a statement yesterday it will strengthen its partnership with American and the two airlines will jointly ask the United States and Japanese governments for antitrust immunity on trans-Pacific routes.
The decision brings to an end a fierce tug-of-war over Japan's ailing flagship carrier, which is restructuring under bankruptcy but offered the US airlines access to lucrative Asian routes.
Delta and its partners offered JAL US$1 billion to leave Oneworld. American and its partners said they would give JAL as much as US$1.4 billion to stay.
American's victory seemed improbable just a few weeks ago when Japanese officials, convinced of the long-term revenue benefits, were pushing JAL toward Delta and its SkyTeam partners. But after taking over last month, new JAL Chairman Kazuo Inamori insisted that management would reevaluate both proposals from scratch.
JAL's loyalties swung back to American, likely because of worries that regulators would not grant antitrust immunity to a Delta-JAL partnership due to competition concerns. Immunity is the key to a closer revenue-sharing tie-up between US and Asian carriers.
JAL President Masaru Onishi said the Tokyo-based company analyzed the issue "in great detail."
He said management "firmly believed that the advantages of this development with American Airlines can strongly support JAL."
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