Air Berlin expects to start flying as part of the Oneworld alliance of airlines in early 2012 in a move analysts said would bolster its position against German flagship carrier Lufthansa.

In a first step, Air Berlin has entered code-sharing agreements with Oneworld members American Airlines and Finnair.

Bilateral agreements with British Airways and Iberia will follow, Air Berlin said on Tuesday.

Joining the Oneworld alliance would allow Air Berlin to share pricing, scheduling and other information within the alliance.

"Strategically, Air Berlin should emerge as a valuable continental/eastern European feeder carrier for the Oneworld alliance, with a lucrative airport base," UniCredit analyst Uwe Weinreich said.

He estimates joining Oneworld could add up to EUR€50 million to Air Berlin's annual earnings from 2012.

Oneworld has 13 member airlines including British Airways, Japan Airlines and Australia's Qantas (QAN.AX).

It competes with Star Alliance, which includes Lufthansa and United Airlines, and SkyTeam, with members Air France-KLM and Delta.