Sept. 3 (Bloomberg) -- ANA Holdings Inc. and Deutsche Lufthansa AG, both partners in the Star Alliance network of airlines, formed a venture to cooperate on cargo in routes connecting Japan and Europe.
ANA received antitrust immunity for the venture from the Japanese Ministry of Land, Infrastructure and Transport, the two airlines said in a joint statement posted on the website of the Asian carrier. The tie-up has been “positively assessed” by external counsel for compliance with relevant European Union antitrust regulations, the airlines said in the statement.
With the partnership, ANA and Lufthansa Cargo can jointly manage planning, pricing, sales and handling on all routes between Japan and Europe. An agreement will be signed in the next few weeks and the two carriers aim to start working together later this fiscal year, according to the statement.
Global air-freight markets rose strongly in July led by Asian carriers, after a slowdown at the start of the year, the International Air Transport Association said yesterday. European air freight lagged behind the industry reflecting the effects of the Russia-Ukraine crisis, including the impact of mounting economic sanctions, it said.
--With assistance from Kyunghee Park in Singapore.