"In SriLankan Airlines, oneworld is pleased to welcome a high-quality airline that will enhance oneworld's network and product offerings in one of the world's fastest growing regions for air travel demand," oneworld chief executive Bruce Ashby said in a statement.

As part of oneworld, SriLankan's 200,000 members of SriLankan's FlySmiles frequent flyer program will be able to redeem points at other member airlines, and premium members will be able to use 550 airport lounges.

"Joining the alliance will help put SriLankan more firmly on the global aviation map and vastly improve Sri Lanka's connections with the rest of the world..," SriLankan Airlines Chairman Nishantha Wickremasinghe said

SriLankan Airlines will add three Indian cities to the oneworld's network of 850 destinations in 150 counties, Kochi, Tirychirapalli and Thiruvananthapuram.

Sri Lanka's capital Colombo is already served by oneworld members Cathay Pacific and Royal Jordanian, and member designate Malaysia Airlines.

SriLankan's which already codeshares with Malaysia, will now code share with oneworld members Royal Jordanian and S7 Airlines, the stament said.

S7 is a fast growing Russian carrier.

Update I