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updated: 8/6/2012 7:27 AM

IAG chief eyes stake in American Airlines

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Associated Press

LONDON -- The owner of British Airways and Spanish airline Iberia is considering taking a stake in American Airlines.

The Financial Times on Monday quoted Willie Walsh, the chief executive of International Airline Group, as saying that a small stake in American could reinforce American's participation in the Oneworld alliance which includes British Airways, Iberia, Japan Airlines and Qantas. British Airways has a joint venture with American on North Atlantic flights.

Walsh said IAG is prepared to buy a stake "if we can make the case that there is additional strategic value to be achieved."

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