Malaysia Airlines Bhd (MAB) has forged a partnership with InterGlobe Aviation Ltd (IndiGo), India's largest airline, aiming to enhance travel options and flexibility between Malaysia and India. The agreement, marked by the signing of a memorandum of understanding (MOU) on Wednesday, entails a codeshare partnership and mutual cooperation, as announced by Malaysia's national carrier.
“The agreement will enable both carriers to provide customers with more options and flexibility for seamless travels between Malaysia and India”, the statement read. As per Malaysia Airlines Bhd (MAB), the code-sharing arrangement will bolster its connectivity within India by serving as the marketing carrier on IndiGo-operated flights. Simultaneously, IndiGo patrons will gain access to a broader array of destinations across Southeast Asia via its network expansion.
“This reciprocal arrangement will allow both carriers to provide seamless connections to their customers, besides enabling them to enjoy an integrated travel itinerary among other facilities,” it said in a statement. MAB is IndiGo's first codeshare partner in Southeast Asia, while IndiGo is MAB’s first codeshare partner in India.
Malaysia Airlines currently operates 71 weekly flights to nine destinations in India, including New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Kochi, Ahmedabad, Amritsar and Trivandrum. “With India being our largest international market, we are delighted to enter this MOU with IndiGo to further widen our reach beyond the nine hubs we currently operate within India”, said its parent company Malaysia Aviation Group Bhd’s group managing director Datuk Captain Izham Ismail.
Meanwhile, Pieter Elbers, the CEO of IndiGo, expressed that the collaboration will elevate international trade prospects by enhancing accessibility. IndiGo, boasting the title of India's largest airline with a fleet exceeding 350 aircraft, disclosed in its annual report that it achieved a milestone of carrying a record-high 86 million passengers for the fiscal year concluding on March 31, 2023 (FY2023).
In the fiscal year ending on December 31, 2023 (FY2023), Malaysia Airlines Bhd (MAB) reported an operating profit of RM1.099 billion, surpassing its FY2022 figure of RM80 million by more than thirteenfold. This significant increase was credited to heightened capacity and strong yield amidst robust passenger demand. By the end of December 2023, MAB had restored 86% of its pre-pandemic capacity, with a projected full recovery anticipated by the second quarter of 2024.
Meanwhile, Malaysia Aviation Group (MAG) achieved an annual net profit for the first time since 2014, posting earnings of RM766 million in 2023. This marks a significant turnaround from the net loss of RM344 million reported in 2022. The positive results were attributed to robust traffic in the premium segment, proactive capacity management, and improved yield within the group's passenger segment.