This article is based on an official press release from Singapore Airlines.

Singapore Airlines and Malaysia Airlines Formalize Strategic Joint Business Partnership

On January 29, 2026, Singapore Airlines (SIA) and Malaysia Airlines Berhad (MAB) officially formalized a strategic Joint Business Partnerships (JBP). The agreement marks a significant milestone in Southeast Asian Airlines, following the receipt of final Regulations approvals from the Civil Aviation Authority of Malaysia (CAAM) earlier this month and the Competition and Consumer Commission of Singapore (CCCS) in July 2025.

According to the joint announcement, the partnership allows the two national carriers to coordinate flight schedules, share revenue, and offer joint fare products. This move is designed to deepen cooperation on the high-traffic Singapore-Malaysia air corridor and expand connectivity for passengers traveling between the two nations and beyond.

Scope of the Partnership

The formalized agreement enables SIA and MAB to operate more closely than ever before. Key components of the partnership include revenue sharing on flights between Singapore and Malaysia and the alignment of flight schedules to provide customers with more convenient departure times. The airlines also plan to introduce joint corporate travel programs to better serve business clients operating in both markets.

Expanded Connectivity and Codeshares

A central feature of the JBP is the expansion of codeshare arrangements. Under the new terms, Singapore Airlines will expand its codeshare operations to include 16 domestic destinations within Malaysia, such as Kota Kinabalu, Kuching, Penang, and Langkawi. Conversely, Malaysia Airlines will progressively codeshare on SIA flights to key international markets, including Europe and South Africa.

Goh Choon Phong, Chief Executive Officer of Singapore Airlines, emphasized the mutual benefits of the agreement in a statement:

“Our win-win collaboration strengthens both carriers’ operations, while delivering enhanced value to customers across our combined networks. This also reinforces the long-standing and deep people-to-people and trade links between Singapore and Malaysia, supporting economic growth and connectivity that will benefit both nations.”

Regulatory Journey and Exclusions

The path to this partnership began in October 2019 but faced delays due to the global pandemic and necessary regulatory scrutiny. The Competition and Consumer Commission of Singapore (CCCS) conducted a thorough review, raising initial concerns regarding competition on the Singapore-Kuala Lumpur (SIN-KUL) route, one of the busiest international air corridors globally.

To secure approval, the airlines committed to maintaining pre-pandemic capacity levels on the route. Additionally, the partnership explicitly excludes the groups’ low-cost subsidiaries, Scoot (SIA Group) and Firefly (Malaysia Aviation Group). This exclusion was a critical revision submitted to regulators to ensure fair competition in the budget travel segment.

Datuk Captain Izham Ismail, Group Managing Director of Malaysia Aviation Group, highlighted the strategic importance of the deal:

“This collaboration brings together complementary frequencies and aligned schedules, enabling deeper connectivity between Malaysia and Singapore. Over time, it reinforces MAB’s competitive position by enhancing scale, relevance, and network resilience across key markets.”

AirPro News Analysis

Consolidation in a High-Volume Corridor

The formalization of this JBP effectively allows Singapore Airlines and Malaysia Airlines to operate as a single entity regarding scheduling and pricing on the full-service Singapore-Kuala Lumpur route. By coordinating schedules, the carriers can avoid wingtip-to-wingtip flying (flights departing at the exact same time), thereby optimizing fleet utilization and offering a “shuttle-like” frequency for business travelers.

While this strengthens the full-service proposition against low-cost competitors like AirAsia, the regulatory exclusion of Scoot and Firefly is a vital safeguard for consumers. It ensures that price-sensitive travelers retain access to competitive fares driven by the budget sector, while the JBP focuses on premium and connecting traffic.

Frequently Asked Questions

When does the partnership officially begin?
The partnership was formally launched on January 29, 2026, following the final regulatory approval from the Civil Aviation Authority of Malaysia.

Will this affect frequent flyer programs?
Yes. While reciprocal benefits for earning and redeeming miles were enhanced in 2024, the JBP is expected to deepen integration, offering better recognition for elite status holders and improved lounge access across both networks.

Are budget airlines included in this deal?
No. The low-cost subsidiaries Scoot and Firefly are excluded from this joint business arrangement to comply with regulatory requirements and preserve competition.

Sources

• Singapore Airlines Press Release
• Malaysia Airlines Official Statement

This article summarizes reporting by Reuters.

Qantas to Exit Jetstar Japan Stake; Airline Set for Rebrand

The Qantas Group has announced it will divest its remaining 33.32% shareholding in Jetstar Japan, selling the stake to a consortium led by the Development Bank of Japan (DBJ). The move, confirmed on February 3, 2026, signals the Australian carrier’s complete departure from the Asian low-cost carrier (LCC) joint venture model.

According to reporting by Reuters, the transaction is expected to conclude by mid-2027, subject to regulatory approvals. While the Airlines will continue operations, it will undergo a comprehensive rebranding, removing the “Jetstar” name from the Japanese domestic market. This decision follows the closure of Qantas’s Singapore-based subsidiary, Jetstar Asia, in July 2025, effectively ending the group’s pan-Asian budget airline strategy.

Transaction Details and Ownership Structure

Under the new agreement, the Development Bank of Japan will enter as a major shareholder, while Japan Airlines (JAL) will retain its controlling 50% stake. Tokyo Century Corporation will also hold its position with a 16.7% share.

Qantas has stated that the financial impact of the sale will be immaterial to its earnings. The primary objective appears to be a strategic realignment rather than an immediate cash injection. The airline’s current flight schedules, routes, and staffing at its Narita Airport base will remain unaffected in the immediate term.

Rebranding Timeline

Consumers can expect significant changes to the airline’s visual identity. According to market data, a new brand name is expected to be announced in October 2026, with the full transition away from the Jetstar livery completed by mid-2027. Until then, the carrier will continue to operate under its current name.

Strategic Rationale

The divestment allows Qantas to redirect capital toward its core domestic operations and its ambitious “Project Sunrise” ultra-long-haul international flights. In an official statement regarding the sale, Qantas Group CEO Vanessa Hudson emphasized the shift in focus.

“We’re incredibly proud of the pioneering role Jetstar Japan has played… This transaction allows us to focus our capital on our core Australian operations while leaving the airline in strong local hands.”

Vanessa Hudson, Qantas Group CEO

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For Japan Airlines and the DBJ, the move represents a “nationalization” of the carrier’s ownership structure. By transitioning to a Japanese capital-led model, the stakeholders aim to better capture the country’s booming inbound tourism market without the complexities of a cross-border joint venture.

“We will respond flexibly to market changes and maximize synergies with the JAL Group to achieve sustainable growth.”

Mitsuko Tottori, JAL Group CEO

AirPro News Analysis

The exit from Jetstar Japan marks the final chapter in Qantas’s retreat from its once-ambitious Asian expansion strategy. For over a decade, the “Jetstar” brand attempted to replicate its Australian success across Asia. However, the closure of Jetstar Asia in Singapore in 2025 demonstrated the difficulties of maintaining margins in a fragmented market saturated by competitors like Scoot and AirAsia.

By selling its stake in Jetstar Japan now, Qantas appears to be executing a disciplined retreat. Rather than continuing to battle high fuel costs and intense regional competition from rivals such as ANA’s Peach Aviation, the Australian group is consolidating its resources where it holds the strongest competitive advantage: its home market and direct international connections.

Future Operations

Despite the ownership change, operational ties between the carriers will not be entirely severed. Qantas and Japan Airlines will maintain their codeshare relationship, and Qantas and Jetstar Airways (Australia) will continue to operate their own aircraft between Australia and Japan. The sale strictly concerns the Japanese domestic joint venture entity.

Masakazu Tanaka, CEO of Jetstar Japan, expressed optimism about the transition in a statement:

“As we look to the next chapter… I am pleased to work with the new ownership group to lead our LCC into the future.”

Masakazu Tanaka, Jetstar Japan CEO

The airline will continue to compete in the Japanese LCC sector, which is currently seeing consolidation as major groups like JAL and ANA tighten control over their budget subsidiaries.

Sources

• Reuters

This article is based on an official press release from ANA Holdings.

ANA Holdings Unveils Aggressive FY2026-2028 Strategy Targeting Narita Expansion

On January 30, 2026, ANA Holdings (ANAHD) announced its new Medium-term Corporate Strategy for fiscal years 2026 through 2028. Under the theme “Soaring to New Heights towards 2030,” the group has outlined a roadmap shifting from post-pandemic recovery to a phase of aggressive growth, underpinned by a record 2.7 trillion yen investment plan over the next five years.

The strategy identifies the planned expansion of Narita International Airport in 2029 as a critical business opportunity. According to the company, this infrastructure upgrade will serve as a catalyst for expanding its global footprint. Financially, the group is targeting record-breaking performance, aiming for 250 billion yen in operating income by FY2028 and 310 billion yen by FY2030.

Strategic Pivot: The “2029 Catalyst”

A central pillar of the new strategy is the preparation for the massive infrastructure upgrade at Narita International Airport, scheduled for completion in March 2029. This expansion includes the construction of a new third runway (Runway C) and the extension of Runway B, which is expected to increase the airport’s annual slot capacity from 300,000 to 500,000 movements.

ANAHD views this development as a “once-in-a-generation” opportunity. The group’s network strategy is divided into two distinct phases:

• FY2026-2028: The Airlines will prioritize expanding flights at Haneda Airport to capture high-yield business demand during the immediate term.
• Post-2029: The focus will shift to Narita Airport to leverage the new capacity. The group targets 1.7x growth in Narita-based flights, specifically strengthening connections to North-America and Asia.

Fleet and Product Upgrades

To support this expansion, ANAHD plans to introduce new Boeing 787-9 aircraft starting in August 2026. These aircraft will feature upgraded seats in all classes, a move designed to enhance the airline’s premium appeal in the competitive international market. The total fleet is expected to expand to approximately 330 aircraft, exceeding pre-COVID levels.

Cargo and LCC Integration

Following the acquisition of Nippon Cargo Airlines (NCA) in August 2025, ANAHD is positioning itself as a “combination carrier” powerhouse. The strategy outlines a goal to integrate ANA’s passenger belly-hold capacity with NCA’s large freighter fleet, which includes Boeing 747-8Fs.

“The group aims to realize 30 billion yen in synergies, positioning the group as a global logistics powerhouse.”

, ANA Holdings Press Release

By combining these assets, the group intends to expand its Cargo-Aircraft scale (Available Ton-Kilometers) by 1.3 times, targeting leadership in the Asia-North America and Asia-Europe trade lanes.

Peach Aviation Growth

The group’s low-cost carrier, Peach, is also targeted for 1.3x growth in scale. The strategy emphasizes capturing inbound tourism demand through Kansai International Airport and expanding international medium-haul routes.

Financial Targets and Digital Transformation

The financial roadmap set forth by ANAHD is ambitious. The group aims to achieve an operating margin of 9% by FY2028 and 10% by FY2030. To achieve these figures, the company has committed to a 2.7 trillion yen investment over five years, with 50% allocated to international passenger and cargo growth.

AI is another significant investment area, with 270 billion yen allocated to digital initiatives. The group aims to increase value-added productivity by 30% by FY2030 compared to pre-COVID levels. This includes a focus on “Empowerment of All Employees,” training staff as digital talent to combat Japan’s shrinking workforce.

AirPro News Analysis

The strategic distinction between ANA and its primary domestic competitor, Japan Airlines (JAL), is becoming increasingly defined by hub strategy and cargo volume. While both carriers are modernizing fleets and targeting North American traffic, ANA’s explicit “dual-hub” timeline, banking heavily on the 2029 Narita expansion, suggests a long-term volume play that complements its high-yield Haneda operations.

Furthermore, the integration of NCA provides ANA with a diversified revenue stream that acts as a hedge against passenger market volatility. By securing dedicated freighter capacity via NCA, ANA is less reliant on passenger belly space than competitors who lack a dedicated heavy-freighter subsidiary, potentially giving them an edge in the logistics sector.

Shareholder Returns and Sustainability

In response to market demands for capital efficiency, ANAHD has signaled a commitment to Total Shareholder Return (TSR). The policy includes maintaining a dividend payout ratio of approximately 20% and introducing a new interim dividend system starting next fiscal year. The group also noted it would execute flexible share buybacks.

On the Sustainability front, the group reiterated its goal of Net-Zero CO2 emissions by 2050, focusing on operational improvements and the accelerated adoption of SAF.

Frequently Asked Questions

When does the new strategy go into effect?

The Medium-term Corporate Strategy covers the fiscal years 2026 through 2028, beginning April 1, 2026.

What is the “2029 Catalyst”?

This refers to the completion of the Narita Airport expansion in March 2029, which includes a new third runway and will increase slot capacity to 500,000 movements annually.

How much is ANA investing in this plan?

ANA Holdings plans a total investment of 2.7 trillion yen over five years.

What is the target for operating income?

The group targets 250 billion yen in operating income by FY2028 and 310 billion yen by FY2030.

Sources

• ANA Holdings