The Lufthansa Group and Air India will work even more closely together in the future. To this end, Carsten Spohr, Chairman of the Executive Board of Deutsche Lufthansa AG and Chief Executive Officer of the Lufthansa Group, and Campbell Wilson, Chief Executive Officer of Air India, today signed a Memorandum of Understanding that establishes the framework for a future Joint Business Agreement between the Lufthansa Group airlines as well as Air India and Air India Express.
The agreement is specifically designed to capitalise on new growth opportunities arising from the recently concluded free trade agreement between India—the world’s most populous country—and the European Union (EU).
The EU states are India’s largest trading partners for goods. Bilateral trade in goods currently totals €180 billion per year.
Both economic powers account not only for a quarter of the world’s population, but also for a quarter of the world’s gross domestic product (GDP). The latest agreement creates nothing less than the world’s largest free trade area.
Carsten Spohr, Chairman of the Executive Board of Deutsche Lufthansa AG and Chief Executive Officer of the Lufthansa Group: “Today’s agreement with our long-standing Star Alliance partner Air India is a strong signal of our mutual determination to open a new chapter in aviation between the EU and India following the landmark trade agreement between both economic regions.
“Together with Air India, we will strengthen our access to the aviation market with the highest growth rates worldwide. The Lufthansa Group is already the most successful and most popular European airline group among customers in India.
“In the future, we will contribute to deepening economic and cultural relations between India and Europe with even more connections.
“With our new long-haul aircraft and Lufthansa Allegris and SWISS Senses on board, we are offering a significantly improved premium travel experience in all classes on more and more routes, including to India.”
Campbell Wilson, Chief Executive Officer and Managing Director, Air India: “This milestone in our deepening relationship with the Lufthansa Group is great news for travellers and enterprises alike between India and Europe.
“As Air India continues to expand its global footprint with a fast-modernising fleet and transformed product and service offerings, this framework enables us to explore closer cooperation on multiple fronts to meet the growing trade, commerce, and people-to-people ties between our respective regions.
“This would unlock greater value for our common customers and respective shareholders, and we look forward to progressing these initiatives together with the Lufthansa Group.”
