Jet Airways Ltd. is finalising talks with Air France-KLM to create a joint venture between Europe and India, Bloomberg reported citing French weekly La Tribune.
The JV will be connected with the partnership between Air France-KLM, Virgin Atlantic and Delta without being part of it, said the report.
India's second biggest airline by market share, Jet Airways is not a member of any aviation alliance but has code share agreements with other airlines, including Air France and KLM.
The deal follows the deepening of commercial ties between Jet and Air France-KLM since the code-sharing pact in 2014. Jet Airways will start flying a Paris-to-Chennai flight from October as part of the code-sharing pact with Air France. It also shares a pact with KLM where it will start a daily Amsterdam-to-Bengaluru flight.
Shares of Jet Airways closed 0.75 percent higher ahead of the report, while the benchmark BSE Sensex ended trade flat on Friday.
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