International Airlines Group (IAG) has announced a joint venture with LATAM, the merged group consisting of South American carriers LAN and TAM.
Subject to regulatory approval, the agreement will see IAG carriers British Airways and Iberia co-operate with fellow Oneworld members LAN and TAM on flights between the EU and South America.
The joint venture will see codeshare agreements expanded, and allow the airlines to offer “integrated networks, new non-stop routes, additional frequencies on existing routes and combined fares” on transatlantic flights.
IAG says regulatory approval for the joint venture could take between 12 and 18 months.
At the same time LATAM has announced a planned joint venture with Oneworld member American Airlines. The group says that the two new agreements will give its passengers access to a network of over 420 destinations worldwide.
British Airways, Iberia and American Airlines have an existing transatlantic joint venture agreement stretching back to 2010.