Qantas and Emirates strike deal
EMBATTLED Australian airline Qantas has struck a 10-year global aviation partnership with Dubai-based carrier Emirates.
Under the agreement, announced on Thursday by Qantas CEO Alan Joyce and Emirates president Tim Clark, the Australian carrier will move its hub for European flights from Singapore to Dubai.
The announcement comes after Qantas last month announced a $244 million loss, its first since it was privatised in 1995.
Shares in the carrier surged on news of the Emirates deal - up 6.4% as of 4.15pm at $1.19.
The Emirates and Qantas frequent flyer programs will be aligned under the deal.
Other features include reciprocal access to tier status benefits - including end-to-end customer recognition, lounge access, priority check-in and boarding - coordinated pricing, sales and scheduling.
The Emirates deal means Qantas will end its 18-year joint business arrangement with the International Airlines Group, including British Airways, from March 31 next year.