KUALA LUMPUR (April 3): Malaysia Airlines Bhd (MAB) is partnering India's largest airline InterGlobe Aviation Ltd (IndiGo) to provide customers with more options and flexibility for travel between Malaysia and India.

The airlines signed a memorandum of understanding (MOU) on Wednesday for a codeshare partnership and mutual cooperation agreement, according to a statement by the Malaysian flag 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.

According to MAB, the code-sharing agreement will enable the airline to strengthen its connectivity within India as the marketing carrier on IndiGo-operated flights, while IndiGo customers will get to explore more destinations in Southeast Asia through its network.

“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, IndiGo’s chief executive officer Pieter Elbers said the partnership will enhance international trade opportunities through improved accessibility.

IndiGo, India's largest airline by fleet size with over 350 aircraft, achieved its record-high 86 million passengers carried for the financial year ended March 31, 2023 (FY2023), according to its annual report.

For the financial year ended Dec 31, 2023 (FY2023), MAB achieved an operating profit of RM1.099 billion, more than 13 times higher than the RM80 million it recorded in FY2022, attributable to higher capacity and robust yield amid strong passenger travel demand.

It reinstated 86% of its pre-pandemic capacity as of the end of December 2023, with a targeted full recovery expected by the second quarter of 2024.

Meanwhile, MAG recorded an annual net profit for the first time since 2014 with its earnings standing at RM766 million in 2023, compared with a net loss of RM344 million in 2022, thanks to robust traffic in the premium segment, active capacity management and stronger yield for the group's passenger segment.