IAG may be looking to buy stake of American Airlines

26th Mar 2012 10:53

International Airlines Group (IAG) may be considering the purchase of a stake of American Airlines to pre-empt a similar move by rivals, The Sunday Times reported this weekend without citing sources. The US airline, whose parent company entered bankruptcy protection in November, has a strategic agreement with IAG beyond the One World alliance shared with other airlines.US Airways and Delta Airlines have shown interest in American Airlines, leading IAG Chief Executive Willie Walsh to consider the move. Note that IAG is already involved in another acquisition, that of Lufthansa's low-cost subsidiary BMI.Shares of IAG were trading 0.22% higher at 182.7p by 11:31 in London.M.G.