CODESHARE AGREEMENT Clause Samples

CODESHARE AGREEMENT. At the request of a New Air Services Provider on the London-Seoul City Pair, Korean Air shall enter into a codeshare agreement for air passenger services in the form requested by the New Air Services Provider (i.e. free-flow or blocked-space) allowing the New Air Services Provider to place its code on flights operated by Korean Air from Seoul for purposes of offering a service on the London-Seoul City Pair or any connecting service to/from Seoul (including future routes launched by Korean Air) and, at the request of the new entrant, for Korean Air to place its code on flights operated by the New Air Services Provider for purposes of offering a service on the London-Seoul City Pair for as long as the New Air Services Provider operates on the London-Seoul City Pair. The conditions for these agreements shall be on terms such that the New Air Services Provider shall have equal treatment with Korean Air’s SkyTeam Airline Alliance partners on the routes operated out of Seoul. The settlement rate per coupon will be reasonable and at least as favourable or competitive in comparison to market prices at the date of the codeshare agreement or the date the rates are reviewed. The final terms of the codeshare agreement are subject to the approval of the CMA, advised by the Trustee. The CMA will in particular assess whether the settlement rate per coupon of the codeshare agreement is reasonable.