The Emirates-Qantas partnership, which took off yesterday, may go down in history as a game-changing initiative for both airlines for a number of reasons.

Firstly, it readjusts the so-called “kangaroo route” between major European and Australian destinations, by cutting travel time by a few hours and with just one stop — in Dubai. So far, Emirates and a few other Gulf carriers have been expanding this route. The Qantas-Emirates deal will reenergise this. Secondly, the partnership allows a wider choice for European and Australian travellers — both in terms of frequency and geographical reach. And thirdly, the deal will help boost passenger traffic through Dubai International Airport and the emirate’s tourism industry.

Qantas’ bookings have already jumped six-fold in a fortnight on its European services via Dubai as the Australian carrier hopes to make a profit this year, after incurring losses in 2012. For Qantas, this deal will play a crucial role in reviving its fortunes, while for Emirates, this will help it maximise its seat inventories and manage its growing capacity with an increased number of passengers from Down Under and Europe. That way, both airlines can reap rich dividends in a challenging and competitive global aviation environment.

For Dubai, this means increased retail and tourism activities as well as freight operations — which will help boost its economy as well as reinforce its position as the world’s second biggest international aviation hub. This deal also stands out as a shining example of how such partnerships can contribute to both economies by creating a win-win situation for all, including passengers.