The two countries agreed in December to establish the bilateral accord to help boost competition and lower fares. Japan said it would sign the deal upon completion of U.S. antitrust immunity of joint ventures involving Japan Airlines Corp. and All Nippon Airways (JP:9202 298.00, -6.00, -1.97%) , or ANA, with U.S. carriers. On Oct. 6, the U.S. approved both the United-Continental-ANA venture, as well as a venture between AMR Corp.’s /quotes/comstock/13*!amr/quotes/nls/amr (AMR 7.48, +0.02, +0.27%) American Airlines and bankrupt Japan Airlines.
On Monday, Japan said it also granted United, Continental and ANA antitrust immunity. That sets the stage for the carriers to combine their trans-Pacific networks to lower costs and attract more customers.
“The open skies agreement will fully liberalize this important aviation market, allowing for new air services between the two countries and enabling consumers to benefit from greater choices and competition,” said the parent company for United and Continental in a Monday statement.
United Continental Holdings /quotes/comstock/13*!ual/quotes/nls/ual (UAL 27.71, 0.00, 0.00%) said it wants to begin implementing their venture with ANA in the spring.
Because of laws forbidding complete foreign ownership of domestic airlines, international carriers are seeking ventures to coordinate more closely on ticket sales, marketing, flight schedules, and maintenance.
The new U.S. agreement with Japan, pending final approval, would replace a 1952 treaty that provided Delta Air Lines /quotes/comstock/13*!dal/quotes/nls/dal (DAL 13.47, +0.29, +2.20%) , United and American privileged routes between Japan and the U.S.
The U.S. has open skies treaties with more than 90 countries, including the European Union.-------------------------------
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