During a demonstration flight of Boeing’s new 787 high above the United Arab Emirates this summer, one of the plane-maker’s representatives jokingly asked an Etihad Airways executive what was next on the airline’s shopping list.

It wasn’t planes he was talking about, but chunks of other airlines. Abu Dhabi-based Etihad has snapped up stakes in four different carriers just since December, prompting speculation in aviation circles of more deals to come.

Etihad is not alone. The Gulf’s three big airlines are all increasingly forging cross-border partnerships to extend their reach deeper into international markets.