International Airlines Group confirmed reports Friday that it has signed a non-disclosure agreement with AMR/American Airlines.
IAG is parent of British Airways and Iberia, both members with American in the Oneworld airline alliance.
U.S. law limits foreign airlines to 49 percent ownership and 25 percent control of U.S. carriers.
British Airways CEO Willie Walsh has acknowledged a number of times that it might be interested in helping out partner American as that carrier works its way through bankruptcy court.
Two years ago, American was lining up dollars for another Oneworld partner, Japan Airlines, as JAL was struggling. JAL never called on the non-Japan investments, which could have reached over $1 billion.
Earlier Friday, US Airways and AMR announced they had signed non-disclosure agreements so that they can exchange information as both study the possibility of a merger.
Source: dallasnews.com
