CHARLOTTE, N.C. -- Germany's Lufthansa says it's not putting $300 million into JetBlue(JBLU Quote) solely as a financial investment -- it sees strategic value in an alliance with the biggest carrier at New York's Kennedy International.
After all, "Kennedy is a second Heathrow. It shouldn't be undervalued," Lufthansa CEO Wolfgang Mayrhuber said Friday at a Frankfurt press conference. Yet Kennedy, and in fact, the entire New York international market, is a place where the Star Alliance, which Lufthansa co-founded, is barely represented.
In terms of discussing where the two carriers can find common ground, Mayrhuber went well beyond what JetBlue CEO Dave Barger said Thursday during a conference with analysts. Barger stressed that the deal, in which Lufthansa will acquire 19% of JetBlue if regulators approve, is strictly a financial one, with further possibilities to be discussed later on. ...
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