Struggling Qantas Airways is moving closer to an alliance with Dubai's flagship carrier Emirates, a newspaper reported on Thursday, sending the Australian airline's shares surging 8 percent.
Any tie-up could help Qantas' loss-making international division by giving it access to greater numbers of passengers from Emirates' hub in the Middle East as well as cutting aircraft and other costs.
A final form of the deal could vary from a straightforward code-share arrangement to a more global revenue-sharing deal, the Australian Financial Review reported, citing unidentified sources. There was no mention of a capital alliance.
Qantas said in a statement it was in talks with number of airlines, including Emirates, about potential alliances but said it would not give further details.
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