SYDNEY: American Airlines and Qantas Airways are making a second attempt at gaining US regulatory permission for a venture that would allow them to coordinate prices and schedules, threatening to cancel services if they are rejected.
The pair’s application for a joint venture covering the US, Australia and New Zealand was rejected in 2016 under the Obama administration amid opposition from rival carriers Hawaiian Airlines and JetBlue Airways.
The airlines have said they hope the new administration will look more favorably on an application as President Donald Trump has promised to boost US industry through lighter regulation and a more hands-off approach to anti-trust enforcement.
“The proposed joint business will significantly improve service, stimulate demand and unlock more than $300 million annually in consumer benefits that are not achievable through any other form of cooperation,” Qantas said in a statement on Tuesday.
The statement added that a rejection could result in Qantas reducing the frequency of, downgrading or even canceling its A380 service between Sydney and Dallas/Fort Worth, while American may further reduce services between Los Angeles and Sydney and Auckland.
American Airlines and Qantas currently rely on codeshare agreements to make those routes economically viable. If the venture is approved, the two could offer more flights, including to cities not currently served by either.
Regulators in Australia and New Zealand had approved the first application for the joint venture before it was rejected by the US.
American Airlines and Qantas in new attempt to get US approval for joint venture
American Airlines and Qantas in new attempt to get US approval for joint venture
Lebanese social entrepreneur Omar Itani recognized by Schwab Foundation
- FabricAID co-founder among 21 global recipients recognized for social innovation
DAVOS: Lebanon’s Omar Itani is one of 21 recipients of the Social Entrepreneurs and Innovators of the Year Award by the Schwab Foundation for Social Entrepreneurship.
Itani is the co-founder of social enterprise FabricAID, which aims to “eradicate symptoms of poverty” by collecting and sanitizing secondhand clothing before placing items in stores in “extremely marginalized areas,” he told Arab News on the sidelines of the World Economic Forum in Davos, Switzerland.
With prices ranging from $0.25 to $4, the goal is for people to have a “dignified shopping experience” at affordable prices, he added.
FabricAID operates a network of clothing collection bins across key locations in Lebanon and Jordan, allowing people to donate pre-loved items. The garments are cleaned and sorted before being sold through the organization’s stores, while items that cannot be resold due to damage or heavy wear are repurposed for other uses, including corporate merchandise.
Since its launch, FabricAID has sold more than 1 million items, reached 200,000 beneficiaries and is preparing to expand into the Egyptian market.
Amid uncertainty in the Middle East, Itani advised young entrepreneurs to reframe challenges as opportunities.
“In Lebanon and the Arab world, we complain a lot,” he said. Understandably so, as “there are a lot of issues” in the region, resulting in people feeling frustrated and wanting to move away. But, he added, “a good portion of the challenges” facing the Middle East are “great economic and commercial opportunities.”
Over the past year, social innovators raised a combined $970 million in funding and secured a further $89 million in non-cash contributions, according to the Schwab Foundation’s recent report, “Built to Last: Social Innovation in Transition.”
This is particularly significant in an environment of geopolitical uncertainty and at a time when 82 percent report being affected by shrinking resources, triggering delays in program rollout (70 percent) and disruptions to scaling plans (72 percent).
Francois Bonnici, director of the Schwab Foundation for Social Entrepreneurship and a member of the World Economic Forum’s Executive Committee, said: “The next decade must move the models of social innovation decisively from the margins to the mainstream, transforming not only markets but mindsets.”
Award recipients take part in a structured three-year engagement with the Schwab Foundation, after which they join its global network as lifelong members. The program connects social entrepreneurs with international peers, collaborative initiatives, and capacity-building support aimed at strengthening and scaling their work.
