Transatlantic joint business

RNS Number : 4759T

British Airways PLC

29 September 2010

 



TRANSATLANTIC JOINT BUSINESS SIGNED

British Airways has signed an agreement to start a transatlantic joint business with American Airlines and Iberia which is worth a combined US$7 billion in annual revenues.

The revenue share agreement allows the three airlines to cooperate commercially on flights between the European Union, Switzerland and Norway and the United States, Mexico and Canada. The benefits from the joint business will be shared between the airlines irrespective of which carrier takes the booking. It has been approved by the regulatory authorities of the European Union and United States.

The joint business will launch this October and provide customers with greater access to discounted fares, more convenient connections and better access to the airlines' global network.

It will also enable the airlines' alliance oneworld to compete on an equal footing with the other main global alliances that have had regulatory approval to operate transatlantic joint businesses for several years.

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29 September 2010                                                                                         092/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 programmes, 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 itemise 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.

The Annual Report and Accounts for the financial year 2009-10, which is available online at www.bashares.com, included a section discussing the principal risks and uncertainties which could cause such forward-looking statements to be incorrect.

Investor Relations - Waterside (HAA3), PO Box 365, Harmondsworth, Middlesex, UB7 0GB

Tel:  +44  (0) 20 8738 6947

Fax:  +44  (0) 20 8738 9602

 

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