The daily quoted an unidentified source at Thai Air as saying the Thai national carrier was keeping its options open.
Thai Air has been threatening to leave the Star Alliance since its rival, Singapore Airlines
"Thai (needs to be in an alliance, and considers Star the one with the largest global coverage," the source was quoted as saying. "A solution to the problem of revenue losses due to SIA joining the alliance would be a decisive factor."
Star's biggest competitor is the OneWorld group, led by British Airways and Qantas Airways.
The Air France-Delta Air pact was a "small group starting up," the source said.