American, Iberia and British Airways plan joint deal

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American, Iberia and BA plan joint deal

By Justin Baer in New York and Kevin Done in London

Published: July 2 2008 23:33 | Last updated: July 2 2008 23:33

American Airlines, British Airways and Spain’s Iberia are close to applying for antitrust immunity to form a joint venture that would be one of the most powerful forces in the transatlantic aviation market.

The airlines aim to reach an accord on profit and revenue sharing this month, according to executives at the three carriers.

Record fuel costs, weakening economies and the impact of the “open skies” treaty agreed last year between the US and the European Union have encouraged many of the largest carriers from both sides of the Atlantic to draw closer to old allies or to forge new partnerships. [Full Article]

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