It is understood that the Dubai-based carrier is having meetings with WPP agencies this month about integrated marketing opportunities. Y&R and Grey are both thought be involved in the discussions.
Sources said that Sir Martin Sorrell, the chief executive of WPP, had taken part in the talks and would be attending meetings.
Emirates awarded its estimated £160 million global ad business to StrawberryFrog Amsterdam in 2010. Nomads, which was formed by the management of StrawberryFrog, took over the account in 2013.
StrawberryFrog created the global TV campaign "hello tomorrow" in April 2012. The ads aired in more than 80 markets around the world.
The current discussions will not affect the global media incumbent, Havas Media.
Emirates did not return requests for comment. Nomads declined to comment.