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IAG eyes stake in American Airlines
LONDON—The owner of British Airways and Spanish airline Iberia says it is considering taking a stake in American Airlines. “It is something we would consider,” a spokeswoman for International Airlines Group said yesterday, confirming remarks by IAG CEO Willie Walsh reported earlier in the day by the Financial Times. Walsh said that a small stake in American could reinforce American’s participation in the Oneworld alliance which includes British Airways, Iberia, Japan Airlines and Qantas. British Airways has a joint venture with American on North Atlantic flights. Walsh said IAG is prepared to buy a stake “if we can make the case that there is additional strategic value to be achieved.” American Airlines is undergoing reorganisation under US bankruptcy law. In a speech in Washington on July 17, Walsh said he believed American would emerge as a stronger airline. “A stronger AA not only benefits its customers, employees and shareholders but it also benefits its partners,” he had said. (AP)
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