Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Air NZ, Singapore Airlines codeshare gets Singapore tick

Air NZ, Singapore Airlines codeshare gets Singapore regulator tick

By Suze Metherell

May 22 (BusinessDesk) – 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)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news