American, Iberia and BA plan deal
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American Airlines (AA), British Airways (BA) and Iberia are considering forming a joint venture that would be one of the most powerful forces in the transatlantic aviation market, the Financial Times has reported. According to the newspaper the three airlines hope to reach an agreement of profit and revenue sharing this month. AA and BA currently share a bilateral agreement, however this excludes their transatlantic routes. But the impact of the ‘open skies’ treaty agreed last year between the US and the European Union has encouraged many of the largest carriers to forge new partnerships in order to survive in the current economic climate. The addition of Spain’s national carrier Iberia would give an extra link with continental Europe. AA and BA had also tried to enter into a agreement with Continental Airlines earlier this year, but the US-based carrier chose to get into bed with Star Alliance partners United Airlines, Lufthansa and Air Canada. AA, BA and Iberia are all members of Oneworld.
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