Shares in British Airways are down more than 3% after news of fresh European Union antitrust issues over its plans to co-ordinate with fellow carriers American Airlines and Iberia on Transatlantic routes.
The three airlines - all part of the Oneworld alliance - have been working to get regulatory clearance to co-ordinate over fares and schedules in the lucrative Transatlantic market.
The European Commission, which in April launched a probe into both the Oneworld alliance and the Star Alliance, which includes Germany's Lufthansa and others, said today it had sent a charge sheet to the three Oneworld members. It said their proposed cooperation "may be in breach of European rules on restrictive business practices."
It said in a statement:
"The Commission's statement of objections concerns agreements... regarding the coordination of the parties' commercial, operational and marketing activities in relation to passenger traffic on transatlantic routes."
Shares in British Airways are down 3.2% at 210.8p underperforming the wider FTSE 100, which is down 1.1%, or 53 points, at 4995. The bluechip index slipped back through the 5000 mark in the wake of the US payrolls data which undershot expectations.
