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IAG consider buying stakes in American Airlines |
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Update: 16:22, Monday, Aug 13,2012 (GMT+7)
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British Airways parent International Airlines Group (IAG) may consider
taking a stake in its oneworld alliance partner American Airlines, a
move that could block any takeover of American by IAG rival Delta.
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"We would consider taking a stake in American Airlines if that is something that American would welcome," an IAG spokeswoman said on Sunday.
American Airlines and British Airways - Oneworld alliance
A source close to IAG said the possibility of buying a stake in American was not linked to any bid by Delta.
But American is seen as a target for Delta, and if such a takeover were successful, that would break up the Oneworld alliance and strengthen competition against IAG on transatlantic routes.
"American Airlines is key to IAG's Oneworld alliance, and IAG will do anything they can to prevent the likes of Delta or US Airways from grabbing it." said an aviation sector banker who declined to be named.
"They could for instance offer to buy a 25 percent shareholding in American, the maximum allowed under U.S. law."
Theresa
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