Thai Airways International (THAI) has embraced Oman Air as a code-sharing partner on flights between Bangkok and Muscat.
Starting next Monday, the cooperation will enable the two flag carriers to offer up to 17 flights a week on the route, whose traffic demand is rising.
THAI currently offers three flights a week, on Tuesdays, Thursdays and Sundays, connecting the two cities with Airbus A330-300 wide-body jets, while Oman Air operates double daily flights on the route.
Code-sharing arrangements allow partner carriers to sell each other's tickets on some routes operated by the airlines' own aeroplanes or those belonging to either party, depending on the agreement.
Besides Oman Air, THAI has code-sharing agreements with 26 other international and local airlines.
But the cash-strapped airline has been relatively inactive in expanding that network further, while Bangkok Airways has actively pursued the strategy for years.
Bangkok Airways, which is much smaller than THAI and operates only domestic and regional routes, has 19 code-sharing partners on specific flights.
It hopes to add Shanghai-based China Eastern Airlines to the list as part of its Chinese relaunch.
Bangkok Airways' code-sharing partners, particularly major international airlines, have been feeding passengers to routes on its network, which has remained largely restricted.
Meanwhile, Narongchai Wongthanavimok, THAI executive vice-president for finance and accounting, maintains the airline's business transformation plan will improve the company's operating results and lead to a turnaround.
His statement came after credit rating agency Tris Rating downgraded the ratings of THAI's existing unsecured debentures from A+ with a negative outlook to A with a stable outlook due mainly to net losses since 2011 and rising leverage.
While the ratings downgrade could affect funding, particularly funding costs, the airline has already obtained enough for 2016 operations, Mr Narongchai said.
THAI shares closed yesterday on the Stock Exchange of Thailand at 8.85 baht, up 10 satang, in trade worth 11.7 million baht.