InterGlobe Aviation added 2.74% to Rs 4296 after media reports suggested that the company has agreed on a codeshare partnership with Japan Airlines (JAL) that will greatly benefit customers by providing more travel options between Japan and India.
Japan Airlines will begin codeshare flights with India's top carrier IndiGo in October, the report stated.
The deal, which lets the airlines sell tickets on each other's flights, marks JAL's first new international partnership since the COVID-19 pandemic. It will cover flights on two international routes: from Tokyo's Haneda Airport to Delhi and from Narita Airport to Bengaluru. The domestic routes have yet to be selected from IndiGo's network in India.
JAL had been looking for a new partner in India after Vistara, with which it began codesharing in 2019, agreed to merge with Air India.
Through this new partnership with IndiGo, which has the largest domestic network in India, JAL will be able to establish an extensive network throughout India, including major cities such as Mumbai, Chennai, Hyderabad, Kolkata, Ahmedabad, Amritsar, Kochi, Coimbatore, Thiruvananthapuram, Tiruchirappalli, Pune, Lucknow, Varanasi, and Goa, that connect to JAL operated flights.
With IndiGo, JAL will extend exceptional service to even more travellers through this partnership. In the ensuing period, the carriers will seek to further expand the cooperation with IndiGo code sharing on JAL-operated flights.
Abhijit Dasgupta, senior vice president of network planning and revenue management, at IndiGo, was quoted by the media saying: "We are pleased to expand our portfolio of codeshare partnerships with this agreement with Japan Airlines.
Japan has been increasing in popularity amongst Indian travellers, as both countries are working to strengthen bilateral relationships and ease the visa norms.
This phase of the partnership expands the choices available to Japan Airlines customers for journeys to/from Japan, using IndiGo's extensive network in India.
This step provides seamless connectivity to support trade, commerce, and tourism between the two countries. Over time, we intend to expand the scope of geographic and reciprocal coverage of this relationship to further grow travel opportunities for customers of both airlines.
With burgeoning demand for international travel, IndiGo is committed to offering an on-time, affordable, courteous, and hassle-free travel experience across an unparalleled network.
InterGlobe Aviation in the low cost carrier (LCC) segment of the airline industry in India. The principal activities of the Company comprises of air transportation which includes passenger and cargo services and providing related allied services including in-flight sales.
The company's consolidated net profit surged 106.14% to Rs 1,894.82 crore in Q4 FY24 from Rs 919.20 crore posted in Q4 FY23. Revenue from operations increased 25.88% year on year (YoY) to Rs 17,825.27 crore in the quarter ended 31 March 2024.
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