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July 20, 2010
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Iberia, American Airlines and British Airways Receive Final Approval For Joint Venture

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By: BNO News
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Iberia, British Airways and American Airlines received on Tuesday the final governmental approval by the U.S. Department of Transportation (DOT) to create a joint transatlantic business, AMR Corp. announced.

With the approval the three airlines will receive antitrust immunity and will expand its global cooperation. Iberia and British Airways are members of the oneworld alliance; as well as Finnair and Royal Jordanian which also received antitrust immunity from the DOT.

“We are pleased that U.S. and EU regulators have approved our long-sought-after alliance proposal. By working collaboratively with our oneworld partners, we will enhance our product offerings, strengthen our route networks, and better position our airlines to compete in the ever-changing global aviation marketplace,” said Gerard Arpey, Chairman and CEO of AMR Corp., the parent of American Airlines.

This is a great day for all three airlines and the oneworld alliance. We’ve waited 14 years to bring the benefits of the trans-Atlantic joint business to our customers and level the playing field with the other two global alliances,” said British Airways Chief Executive Willie Walsh.

With this joint agreement, the three airlines will cooperate in flights among the U.S., Mexico, Canada, the European Union, Norway and Switzerland. They will also continue to operate as a single entity.

They will expand their code share arrangements on flights within and beyond the U.S. and European Union, significantly increasing the number of destinations that the airlines can offer customers.

The joint venture will strengthen competition across the Atlantic as oneworld alliance and American Airlines will be able to compete on the same level with other global alliances that already have anti-trust immunity.



 

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