Oneworld members British Airways, American Airlines and Iberia have formally signed a transatlantic tie-up agreement under which they will commercially co-operate on routes between Europe and North America.
British Airways says the joint business, worth some $7 billion in revenues annually, will commence in October. The airlines received European and US regulatory clearance for the venture in July.
"Benefits from the joint business will be shared between the airlines irrespective of which carrier takes the booking," says BA.
It will enable Oneworld to compete "on an equal footing" with Star Alliance and SkyTeam, it adds, and provide customers with better access to discounted fares and more convenient connecting flights.