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each overlap route falls into a separate market (applying an Origin & Destination approach);

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the effects of the transaction are assessed for each of the IATA seasons;

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there is no need to distinguish between sales to end customers and sales to tour operators in this case;

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time sensitive and non-time sensitive passengers fall into the same market with respect to short-haul flights while this distinction does not affect the competitive assessment with respect to any of the long-haul routes examined;

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in case the city of origin or destination is served by more than one airport, it can be left open whether a segmentation on an airport-pair basis is warranted with respect to most overlap routes relevant to the Transaction, with the exception of:

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a potential segmentation between direct and indirect flights for the long-haul routes can be left open, taking into account that direct flights compete more closely with other direct flights than with indirect flights; by contrast, direct and indirect flights do not form part of the same market for the relevant short-haul routes unless specific circumstances exist, mainly where the share of indirect flights in the overall market is significant, at least 10 % of passengers;

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it is not necessary to distinguish separate markets for charter flights and scheduled flights for most of the overlap routes;

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air and rail passenger services should generally not be considered to fall in the same market where the train connection takes longer than around 4 hours.