Originally Posted by
Professor
Alright it is 51.5% Block hours.
So the new language is 50%+/-1% block hours.
That is the translant JV and excludes Virgin Atlantic.
Currently Alitalia is included in this calculation, inclusive to the TA. They have declared they are leaving in 2017.
Alitalia leaves Air France-KLM
And that flying would have to flow back to us.
Something to keep in mind.
At first look I thought that this JV language was a problem, but it really isn't. And if we throw Alitalia in, I think it could end up being a really good deal.
But good/bad is really up to you to decide. But that is what I think.
AZ was only ever I think around 2% of the JV. In any case, that was EASKs. We gave up the astonishingly bad deal of a 3 year bottomless pit agreement with a 1 year cure period and they still couldn't even honor that deal. But now we will let them fly any plane against any plane and call it even, and we fly on average smaller planes that they do.
50/50 block hours when we're currently doing 67/33 is a huge loss regardless of what happens to AZ.