British Airways, American Airlines and Iberia have signed an agreement finalising the details of their joint transatlantic business venture.

An announcement from BA today (September 29), confirms that commercial co-operation on routes between Europe, the US, Mexico and Canada, will begin as early as October.

The deal comes in the form of a “revenue share agreement”, which BA says will “provide customers with greater access to discounted fares, more convenient connections and better access to the airlines’ global network.”

BA said the deal would also allow Oneworld to “compete on an equal footing” with other airline alliances that have received approval for similar transatlantic ventures. Air France and Delta Air Lines, important members of Skyteam, signed a similar agreement back in 2007, later to be joined by KLM and most recently Alitalia.

The European Commission (EC) gave the green light for BA’s transatlantic tie-up in July, with anti-trust immunity from the US Department of Transportation following just days later.

Virgin Atlantic’s president Richard Branson, fiercely opposed to the BA/AA deal, voiced concerns over the creation of a “monster monopoly”, branding the decision by the EC as “shameful” (see online news July 14).

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