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VOL. 127 | NO. 153 | Tuesday, August 07, 2012

IAG Eyes Stake in American Airlines

AP

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LONDON (AP) — 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 Monday, 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 reorganization under U.S. 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.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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