Negotiations over Air France's possible membership of the so-called "Wings" alliance are said to be "well advanced" following formal talks with Alitalia and KLM in Paris.
The two European members of the emerging alliance, together with Northwest Airlines and Continental Airlines of the USA, are eager to accelerate the development of the block to counter the challenge of its Star and oneworld rivals, while Air France must join an alliance soon so as not to lose out on the extra revenues that membership can bring.
Wings members are also thought to be keen to bring Air China into the alliance as its main Asian partner, with Malaysian Airlines another potential recruit.
The wooing of Air France by Wings threatens to leave its US partner Delta Air Lines out in the cold. Delta is the only non-European member of the much looser Atlantic Excellence alliance, the other members of which - led by Swissair - have previously branded as "incompatible" with membership a deepening of the US major's ties to the French carrier.
nAir France shares rose by 29% on their first day of trading on the Paris Bourse following partial privatisation. Prices climbed from 14 to 18 euros ($15.8 to $20.3) before levelling out at 16.10 euros.
Source: Flight International