Some things to think about:

1. SQ would probably never join oneworld or SkyTeam, as both alliances emphasize corporate synergies in addition to joint marketing/FFP tie-ups.

2. At the time of joining *A, SQ only saw it as a temporary measure until it could set up a global alliance of its own.

3. SQ and QF could beneficially cooperate in many ways outside of codesharing or FFP tie-ins, e.g., maintenance, ground handling, etc.