British Airways, American Airlines and Iberia will start joint passenger and cargo operations across the Atlantic in October after signing a $7 billion-a-year revenue sharing alliance.
"The joint business will launch this October," British Airways said in a statement Wednesday.
"It will … enable the airlines' alliance to compete on an equal footing with the other main global alliances that have had regulatory approval to operate trans-Atlantic joint businesses for several years," Europe's third largest carrier said.
By The Numbers: European Airlines' Freight Traffic.
The three airlines, which are partners in the global oneworld alliance, won approval for the alliance from U.S. and European Union regulators in July.
The U.S. Department of Transport said the alliance is likely to generate substantial benefits for shippers.
Starting next month, the three airlines will share revenues and profits and co-ordinate capacity, routes, fares and sales on services between the U.S., Canada and Mexico and the 27-nation European Union and Norway and Switzerland.
Meanwhile, BA's planned merger with Iberia, creating Europe's second largest airline by market capitalization, has moved closer after the Spanish carrier approved the UK airline's $5.8 billion pension deficit.
BA and Iberia are expected to sign off on the merger, which has regulatory and shareholder approval, in November.
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