Joint Venture
In the context of aviation, a Joint Venture (JV) refers to a business arrangement where two or more airlines pool their resources to achieve a specific task or project. This could be for the purpose of expanding into new markets, sharing operational costs, or enhancing service offerings. The airlines involved in a JV share in the profits, losses, and control of the venture. A JV can be a strategic move for airlines to increase their network coverage without having to invest in new aircraft or routes. It allows airlines to offer more destinations and better scheduling options to their customers. Joint ventures in aviation often require regulatory approval to ensure they do not violate competition laws. They are a common practice in the international aviation industry, with examples including the transatlantic joint venture between Delta Air Lines, Air France-KLM, and Virgin Atlantic, and the joint venture between American Airlines and Japan Airlines for transpacific routes.
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