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In continuation of its attempts to increase its codeshare allies, JetBlue Airways Corporation (JBLU - Analyst Report) announced that it has applied to the U.S. Department of Transportation to enter into a bilateral codeshare agreement with Singapore Airlines.

A codeshare deal allows sharing of flights, which necessarily means a passenger can purchase a seat on a flight, which is being operated by another co-operating carrier under a different flight number or code.

The latest agreement, which is awaiting regulatory approval, will provide access to five new destinations across Europe and Asia for JetBlue passengers, while, Singapore Airlines customers will benefit from 16 additional access points within the U.S.

Per the deal, JetBlue will puts its B6 code on flights operated by Singapore Airlines to and from the U.S. to popular destinations like Tokyo, Frankfurt, Seoul, Hong Kong and Singapore. On the other hand, Singapore Airlines will put its SQ code on JetBlue flights operating between New York and key destinations like Austin, Boston, Chicago, Houston and Washington D.C., among others.   

According to NY-based JetBlue, the partnership will allow expanded and seamless connectivity between the two carriers, who have already been interline partners since 2011. Moreover, passengers of both the carriers will leverage from this deal by means of easy one-stop ticketing and baggage check-in facilities.   

Airline partnerships are a strategic key to a carrier’s growth prospects as they provide expansion opportunities without incurring heavy costs. JetBlue remains focused on building partnerships with both legacy and international carriers to enhance its services and take advantage of travel benefits. This premier passenger carrier has more than 30 such tie-ups with various airline companies.

On successful completion of the deal, Singapore Airlines will be the fifth such partner added by JetBlue since 2013. The company has added big names like Turkish Airlines, Qatar Airways, Aer Lingus and South African Airways apart from signing an interline ticketing agreement with Fort Lauderdale-based Silver Airways.

We believe Singapore Airlines makes for a good choice as JetBlue will benefit from the Asian giant’s superior customer service, products and extended network. The deal is expected to fuel JetBlue’s global ambitions and growth going ahead.

JetBlue currently carries a Zacks Rank #3 (Hold). Better-ranked stocks within this sector include Southwest Airlines Co. (LUV - Analyst Report) Delta Airlines Inc. (DAL - Analyst Report) and American Airlines Group Inc. (AAL - Snapshot Report). All the three stocks carry a Zacks Rank #1 (Strong Buy).

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