Proposed Joint Business Agreement Between IAG Cargo Limited, Qatar Airways Group Q.C.S.C And MAB Kargo Sdn. Bhd

Reference:

CCS 400-110-2025-001

Notifying Parties:

The parties to the agreement are: 

·       IAG Cargo Limited

·       Qatar Airways Group Q.C.S.C; and

·       MAB Kargo Sdn. Bhd 

(collectively, the “Parties”) 

Notifying Date:

16 January 2026

Summary of transaction:

Note: The summary of the transaction posted on this Public Register is provided by the Parties. CCS makes no representation as to the accuracy or veracity of the summary information posted.

The Parties have entered into a Joint Business Agreement (“JBA”), pursuant to which Parties agree to cooperate in relation to, among other things, scheduling, pricing, sales and marketing, and other commercial activities with a view to achieving metal neutrality in respect of the provision of air cargo transportation services on the relevant routes.

The proposed JBA will also extend to:

(a) each of the constituent carriers of International Consolidated Airlines Group S.A., namely: British Airways Plc, Aer Lingus Limited, Iberia Líneas Aéreas de España, Vueling Airlines and Fly Level Barcelona LH, S.L.; as well as

(b) Malaysia Airlines Berhad and Flyfirefly Sdn. Bhd. 

The proposed JBA is expected to result in significant consumer and economic benefits and efficiencies, including, inter alia:

(a) more cost-effective and efficient cargo operations, resulting in higher quality air cargo services and expedited transfers of shipments;

(b) enhanced cargo network and capacity;

(c) elimination of double marginalisation;

(d) cost synergies;

(e) wider range of products, services and rate options; and

(f) streamlined sales and integrated customer experience. 

The proposed JBA relates to the provision of air cargo transportation services. The scope of the proposed JBA will include the Parties’ respective cargo operations on the relevant routes. The Parties submit that the relevant routes for the purposes of the competitive analysis are:

(a) the provision of air cargo transportation services on a unidirectional route basis where Singapore is an origin or destination country vis-à-vis the following geographical regions:

          (i) North America: United States of America and Canada

          (ii) Europe: Austria, Belgium, Bulgaria, Croatia,    Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and the United Kingdom.

          (iii) Middle East: Bahrain, Kuwait, Oman, Qatar, UAE, Saudi Arabia.

          (iv) Greater China: China, Macau and Hong Kong;  and

(b) the provision of air cargo transportation services on a unidirectional route basis where Singapore is an origin or destination vis-à-vis another country that has not been classified within a geographical region, with the individual countries being:

          (i) in Asia (save for Greater China): Bangladesh, Brunei, Cambodia, India, Indonesia, Japan, Malaysia, South Korea, Maldives, Pakistan, Philippines, Sri Lanka, Taiwan, Thailand, and Vietnam;

          (ii) in Africa: Kenya, Rwanda, South Africa and Uganda;

          (iii) in South America: Argentina, Brazil, Colombia and Mexico; and

          (iv) Australia. 

For completeness, the Parties submit that they currently overlap for the provision of air cargo transport services on a unidirectional route basis, where Singapore is an origin or destination vis-à-vis the following: (i) geographical regions (7 routes); and (ii) countries that have not been classified within a geographical region (23 routes) (collectively, the “Overlapping Routes”), as set out in the table below: 

Overlapping Routes

1. Singapore to Greater China

2. Singapore to North America

3. North America to Singapore

4. Singapore to Europe

5. Europe to Singapore

6. Singapore to Middle East

7. Middle East to Singapore

8. Singapore to Argentina
9. Singapore to Australia

10. Singapore to Bangladesh

11. Singapore to Brazil

12. Singapore to Brunei

13. Singapore to Colombia

14. Singapore to India

15. Singapore to Kenya

16. Singapore to Maldives

17. Singapore to Mexico

18. Singapore to South Africa

19. Singapore to Sri Lanka

20. Australia to Singapore

21. Brazil to Singapore

22. Colombia to Singapore

23. India to Singapore

24. Kenya to Singapore

25. Malaysia to Singapore

26. Mexico to Singapore

27. Pakistan to Singapore

28. South Africa to Singapore

29. Thailand to Singapore

30. Vietnam to Singapore 

Consultation:

Interested parties are invited to submit their views on the Proposed JBA. If the submission or correspondence contains confidential information, interested parties should also provide CCS with a non-confidential version of the submission or correspondence.

Comments should reach CCS no later than 25 February 2026, 5 p.m. Please write or email your comments
(titled: Comments on the Proposed Joint Business Agreement between IAG Cargo Limited, Qatar Airways Group Q.C.S.C and MAB Kargo Sdn. Bhd: 

Email: ccs_consultation@ccs.gov.sg

Attention: Mr. Eugene Tiang, Assistant Director

Supporting Documents:

Interested third parties may request in writing to obtain more information on the Proposed JBA.

Please write or email your submission (titled: Comments on the Proposed Joint Business Agreement between IAG Cargo Limited, Qatar Airways Group Q.C.S.C and MAB Kargo Sdn. Bhd) to the above contact details.