American Airlines, British Airways and Iberia are close to applying for antitrust immunity to form a transatlantic revenue- and profit-sharing joint venture, the Financial Times reported yesterday, citing executives at the carriers. BA and AA tried to gain antitrust immunity twice in the past, but they abandoned those efforts because they considered the concessions required to gain approval, specifically the surrender of a large number of slots at London Heathrow, to be out of balance. ...

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