EU executive clears BA, American, Iberia deal

British Airways, American Airlines  and Iberia  won EU antitrust clearance on Wednesday to deepen their Oneworld alliance on transatlantic routes and better compete with rival groups.

The airlines want to broaden their pact to take advantage of the "Open Skies" agreement between the United States and the European Union, which liberalizes transatlantic aviation.The carriers offered in March to give up a number of lucrative transatlantic slots in a bid to ease competitive concerns by the European Commission.

Source: Reuters