Open skies
AKL is a very viable hub for any major airline.
The NZ aviation policy is very simple - open skies where possible.
EK have the obvious opportunities to expand their operations into the US; various South American destinations; and even into south west Pacific destinations where they have reciprical open skies rights.
5th freedon traffic is therefore very possible.
It is rumoured that they will be code sharing with SWP carriers to get the feed into their European & (soon to be started) US destinations.
Both NZ & QF are very concerned about potential loss of traffic over the SYD/LAX route to EK & see their concern over this blue ribbon (& highly profitable) route.
EK are in a great position to take advantage of their internal efficiencies, great equipment pool. They so need to expand in real terms over high density markets.
This will be very a very interesting subject in the near future.