Deutsche Lufthansa AG has declared that Air China Ltd is an ideal business partner in the People's Republic of China.

In a statement released after an agreement has been signed between the two airline companies, Lufthansa shared its optimism about the newly-formed partnership.

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"As the flag carrier, Air China is the ideal partner for the Lufthansa Group in the People's Republic of China. This ground-breaking joint venture will fundamentally strengthen our competitive position on routes between Europe and China," Deutsche Lufthansa AG Chair of the Executive Board and CEO Carsten Spohr said at the signing of the agreement in Beijing. "The significantly enhanced partnership will enable us to create additional benefits for customers."

"The Chinese aviation market is one of the most important growth markets worldwide," the Lufthansa executive added. "We want to profit from this growth together with our Star Alliance partner Air China."

Spuhr further noted that with the signing of the joint venture agreement with Air China, the company will be able to strengthen its presence in the Asian country, which is said to be the second most important aviation market all over the world.

Meanwhile, China Daily reported that the agreement between the flag carriers of Germany and China, which finally happened after two years of negotiations, is expected to boost the Europe-China routes once it starts next year.

With this development, Lufthansa will widen its reach in the Asian country that is reportedly poised to replace the United States as the world's biggest aviation market. In the meantime, it will also help Air China improve its international presence, thus reducing its reliance on the local market alone.

TagsAir China Lufthansa, china, Germany, Air China Lufthansa Joint Venture