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BA, Iberia, American Airlines sign alliance deal

29 September 2010

British Airways, American Airlines and Spanish carrier Iberia have signed off on a long-awaited strategic alliance that will see them cooperate on flights between Europe and North America.

The three airlines won approval from the U.S. government and the European Union to work together in July.

Faced with mounting competition from low-cost, no-frills upstarts, the notoriously low-margin airline industry has been going through a period of rapid consolidation and analysts say American Airlines needs a merger partner if it is to keep up amid a wave of mergers in its home market.

source: Reuters.com

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