EU Approval for Transatlantic

RNS Number : 3353P

British Airways PLC

14 July 2010

 



EU APPROVAL FOR TRANSATLANTIC JOINT BUSINESS

British Airways, American Airlines and Iberia have received final regulatory approval from the European Commission today (July 14, 2010) to enter into a joint business agreement on transatlantic flights. The airlines anticipate that they will receive the final decision on transatlantic anti-trust immunity from the US Department of Transportation (DOT) shortly.

British Airways chief executive Willie Walsh said: "We await the DOT's final decision but welcome this important and vital step forward. The high number of new services on London to US routes since the Open Skies agreement demonstrates that Heathrow is open. Between us, we have agreed to make available Heathrow slot pairs for our competitors to use on services to the US. This is a pragmatic decision so that we can get the joint business up and running as soon as possible. The slot commitments provide a further guarantee that there will be no possible loss of competition as a result of our joint business".

The slots will be made available if competitor airlines are unable to acquire them through the normal process. The London-New York slots will only have to be made available if the number of services on the route drops below the currently announced levels.

The transatlantic joint business will strengthen competition across the Atlantic by enabling the oneworld alliance to compete on a level playing field with the other global alliances that already have anti-trust immunity. Customers will benefit from easier, seamless and convenient travel to more global destinations with better connections, improved flight schedules, and enhanced frequent flyer benefits.

The airlines plan to launch the transatlantic joint business this autumn.

ends

July 14, 2010                                                                                                     66/LG/10

Certain information included in these statements is forward-looking and involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward looking statements.

Forward-looking statements include, without limitation, projections relating to results of operations and financial conditions and the Company's plans and objectives for future operations, including, without limitation, discussions of the Company's Business Plan programs, expected future revenues, financing plans and expected expenditures and divestments. All forward-looking statements in this report are based upon information known to the Company on the date of this report. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

It is not reasonably possible to itemize all of the many factors and specific events that could cause the Company's forward looking statements to be incorrect or that could otherwise have a material adverse effect on the future operations or results of an airline operating in the global economy.  Further information on some of the most important risks in this regard is given in the Company's Annual Report and Accounts for the year ended March 31, 2010,  which is available on www.bashareholders.com.

Investor Relations,  Waterside (HAA3), PO Box 365, Harmondsworth, UB7 OGB:  Tel: [phone]

 

END

 

 

MSCSFUFSLFSSEDW