FT: BA / American agree joint venture
17.07.08
British Airways and American Airlines have agreed a transcontinental joint venture that will coordinate schedules and fares, and allow the sharing of revenue, the Financial Times reports today, citing unidentified airline executives.
The newspaper adds that two airlines are in talks with Spain's Iberia to join the partnership by the end of July, and it will seek antitrust approval next month. Winning immunity from laws that limit their co-operation would allow the three airlines to co-ordinate schedules and fares, and share revenue.
The news comes as American reports a $1.4bn quarterly loss and BA say that it will be difficult to break even this year.
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