European Union Closer To Approve Airline Alliance (AMR)

The European antitrust commission has progressed towards approving an expanded airline alliance. The commission is likely to give its nod to an alliance between British Airways (ADR) (OTC: BAIRY), Iberia, and American Airlines (NYSE: AMR).

The three airlines have already offered to let go some of their landing and takeoff slots at London and New York airports to keep a level playing field. The three airlines are members of the Oneworld alliance.

The authorities said that they have set a deadline for seeking comments from the three airlines. The deadline is set to expire on April 10. The U.S. Department of Transportation has already given its preliminary approval to the alliance.