Code share and revenue sharing agreement is a business arrangement in aviation industry where two (or more) airlines shares a same flight and also the revenues generated from this and also bear the expenditures or losses equally. A legal written documentation is drafted in association with some legal authorities to practice code share and revenue sharing between two firms in order to commit the oral terms and conditions in a written legal form and also to avoid any future dispute or denials by any firm from fulfilling its role.
Code is the term used for the identifier in flight schedule. The seats can be purchased on one airline while it is actually operated by the partner airline operating under a different code. All the roles, revenue and loss sharing terms and conditions are mentioned in this code share and revenue sharing agreement and the agreement is attested by a notary public to make it officially and legally sound.
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