MyAir - SkyEurope partnership

[davidjohnson6]

MyAir and SkyEurope have signed a memorandum to work together.

Avionews

Extract:
Myair.com and SkyEurope have signed a Memorandum of Understanding to start a collaboration and to explore "A possible strategic alliance with exchange of participation in the capital share".

I'm probably being a little bit dense, but I can't see any compelling logic to put these 2 LCCs together. One flies an Airbus/Bombardier mix, while the other flies Boeings. One flies from Milan/Venice/Bari while the other flies from Prague/Bratislava/Vienna.

I could understand MyAir tying up with WindJet or Meridiana. I could also understand SkyEurope tying up with BlueAir. But MyAir-SkyEurope seems less compelling.

Can anyone explain the reasons how these 2 airlines can make more money by being combined ? It just seems like 2 airlines each in a weak position trying to get bigger without working out a rationale to become more profitable.

[Flightrider]

Take two big black holes, merge them and all you get is one enormous black hole. Both airlines are struggling - MyAir has just sunk its Spanish sister company LTE whilst SkyEurope are battling to try to convince someone to put extra money in to keep it afloat. It looks rather like a desperate pitch on behalf of the management to convince investors that something will change by getting economies of scale, so the operation will be different after it's been refinanced.