Parent of BA and Iberia “close to appointing advisor”
UK press reports are circulating that International Airlines Group, the parent company of British Airways and Iberia, wants to buy a stake in American Airlines, which is currently undergoing Chapter 11 restructuring. The idea is to prevent American from falling into the hands of a rival.
This follows earlier reports that US Airways had been busy buying domain names such as usairways-american.com, igniting speculation about a possible merger between them. Delta is also said to be interested in American.
According to the UK press, IAG is “close to appointing an advisor” on a deal with American Airlines. Yet despite the fact that BA, AA and Iberia are oneworld members and jointly operate lucrative transatlantic routes, US ownership laws stop foreign companies from buying large stakes in American companies.