The oneworld alliance has announced it is not interested in expanding its membership and will instead focus on strengthening ties between its eight existing partners: British Airways, American Airlines, Cathay Pacific, Iberia, Qantas, Aer Lingus, LanChile and Finnair.

“Oneworld can bring significant benefits all round by deepening the alliance, not simply widening it,” oneworld managing partner Peter Buecking told a news conference. “Adding new members can actually reduce the value existing members enjoy.”

Swiss, the newly-created descendant of now-defunct Swissair, was hoping to join the alliance, but Buecking said that “in the short term” the oneworld would not accept any new members. Reportedly, the lack of a bi-lateral agreement with British Airways has been a sticking point against the inclusion of Swiss.