“…[4] In the broadest sense, alliances involve collaboration between two or more businesses that retain their autonomy during their relationship [5]. In the global airline industry there are many different types of alliances: asset pools [6,7], blocked-space, revenue sharing and "wet-lease" agreements [8], code-share agreements [9,10], cost-sharing ventures [7,11], equity investments [7,12], feeder agreements [7,13,14], interline pro-rate agreements [15], marketing alliances [7,9,16], and joint ventures [7,9]. The focus of the present study is on the latter strategic option.…”