Shanghai-based carrier Juneyao Airlines Co. Ltd. entered a strategic partnership with online travel agency Trip.com Group, fueling speculation that the pair may link up in a bid for part of bankrupt HNA Group.

Under the partnership, Juneyao and Trip.com will cooperate in business development, strategic investment and digital innovation, among other areas, the companies said Tuesday. The companies are focusing on partnership in aviation and tourism services and may consider deeper cooperation in the future, a Juneyao source said.

Juneyao and Trip.com tied up in June 2020 when they joined China Eastern Airlines, Hainan Province Transport Investment Holding Co. Ltd. and Sanya Development Holding Co. to create a new regional carrier based in Sanya, the tropical tourism resort in Hainan province.