All Nippon Airways Co. Ltd. said Thursday that, together with other carriers Continental Airlines, Inc. (CAL) and United Airlines Corp. (UAUA), it has filed an application with the U.S. Department of Transportation to grant antitrust immunity, which will allow the three carriers to create a trans-Pacific network. Shinichiro Ito, president and chief executive officer of All Nippon said, "By making this closer cooperation between our partner airlines, we will be able to strengthen our trans-Pacific network and improve our services."
In the event of Department of Transportation's approval of the immunity application, the carriers will be able to jointly manage trans-Pacific activities including scheduling, pricing and sales. The companies can also offer customers a greater selection of routings as well as a wider range of fare and service options. All Nippon noted that the trans-Pacific joint venture is the first of its kind between the U.S. and Asia, which is expected to generate substantial service and pricing benefits for consumers. In addition, all the three carriers have their significant presence in Tokyo and the joint venture is also expected to enable the carriers to compete more effectively with other global alliances.
Glenn Tilton, United's chairman and chief executive officer, stated, "This joint venture, coupled with the recently announced open skies agreement between the U.S. and Japan, will significantly enhance our ability to serve customers in Japan and throughout Asia and offer new choice and convenience for customers." Earlier in December, the U.S. and Japan reached an agreement on the draft of Open-Skies aviation pact. The accord, which was reached after five rounds of negotiations that began in May, is expected to ease restrictions on air services between the countries and may also open door for alliances among the major carries. Larry Kellner, chairman and chief executive officer of Continental said that the company will enhance its network of services to nine Japanese cities, which will help its customers to use Continental flights along with United and All Nippon, for trips within the region as well as on trans-Pacific routes. The DOT had granted antitrust immunity to United and Continental in July 2009, enabling the two carriers to coordinate schedules and fares for services outside the U.S. On December 15, The International Air Transport Association, or IATA said that it now sees a wider than forecast net loss for airlines in 2010 on higher fuel costs and pressure on yields, while maintaining its loss projection for 2009. The association expects all regions except Africa to witness an year-over-year improvement in 2010.
IATA, representing some 230 airlines, now expects US$5.6 billion global net loss for 2010. The previous forecast was for a loss of US$3.8 billion. For 2009, IATA maintained its forecast of a US$11 billion net loss. Giovanni Bisignani, IATA's Director General and CEO, then said, "The worst is likely behind us. For 2010, some key statistics are moving in the right direction. Demand will likely continue to improve and airlines are expected to drive down non-fuel unit costs by 1.3%. But fuel costs are rising and yields are a continuing disaster. Airlines will remain firmly in the red in 2010 with US$5.6 billion in losses." CAL closed Wednesday's regular trading at $18.56. In the past 52 weeks, the shares have been trading in a range of $6.37-$21.83 on the NYSE.
UAUA ended on Wednesday on the Nasdaq at $13.09. For the last one year, the shares traded between $3.07 and $13.24, with a three-month average volume of 12.2 million shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.