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Malaysia Airlines ties up with Octopus to boost revenue

Posted by iTech - 2006-03-17

Struggling Malaysia Airlines has signed an agreement with Octopus Travel, a global online company, to enable passengers worldwide to book Malaysia Airlines tickets.
"We have seen an emerging trend of Internet savvy customers who no longer depend on traditional sales channels for their travel arrangements," Abdul Rashid Khan, Malaysia Airlines commercial director told reporters.

"It is one way to increase our revenue," he added.

Octopus Travel sells hotel rooms, sightseeing tours, private transfers, car hire and travel insurance and among its key features are to provide up to 70 percent off standard hotel rates.

Under the partnership, Octopus Travel, a British-based company would provide the services through Malaysia Airlines' website in 14 countries.

Other carriers that subscribe to Octopus Travel include Air France, Virgin Blue, Japan Airlines and Silk Air.

Rashid Khan said Malaysia Airlines expects to increase revenue by 20 million ringgit through ticket sales (5.4 million dollars) in the first year through the tie-up with Octopus.

"We are confident this partnership will be a success. In the first year, we expect revenue from ticket sales of about 20 million ringgit," he said.

Abdul Rashid said presently ticket sales through the Internet was low.

"At the moment it is low. It is below 10 percent," he said.

Abdul Rashid said Malaysia Airlines hopes to capture its traditional leisure industry markets such as Australia, Britain and New Zealand with the services of Octopus Travel.

Malaysia Airlines last month announced an aggressive rescue plan aimed at achieving record profits by 2008, after posting massive losses for the last financial year.

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