Investigation of the Atlantic Joint Business Agreement
Source: gov.uk (2025-08-14)

The Competition and Markets Authority (CMA) investigated the Atlantic Joint Business Agreement between American Airlines, members of International Consolidated Airlines Group (British Airways, Iberia and Aer Lingus) and Finnair under Chapter I of the CA98.

Timetable

Slot Release Procedure for the IATA Summer 2026 season

14 August 2025: The AJB airlines (American Airlines, International Consolidated Airlines Group (British Airways, Iberia and Aer Lingus) and Finnair) have committed to make slots available at London Heathrow or London Gatwick (at the choice of the applicant) to allow in each instance a single eligible airline to operate up to 7 new or additional round-trips per week on the London-Boston, London-Chicago and London-Miami routes.

Key dates for the Slot Release Procedure for the IATA Summer 2026 season are set out below. Applicants wishing to apply for slots should apply to the Monitoring Trustee.

Further information is available on the Monitoring Trustee’s website (https://www.forvismazars.com/uk/en/services/audit-assurance/monitoring-trustee-remedies-compliance-services/investigation-into-atlantic-business-agreement).

Please refer to the text of the commitments (https://www.gov.uk/cma-cases/investigation-of-the-atlantic-joint-business-agreement#decision-to-accept-binding-commitments) for an authoritative statement of the available contracts and the application process.

Appointment of Monitoring Trustee

13 August 2025: The CMA has approved the appointment of Forvis Mazars LLP as Monitoring Trustee, to monitor compliance with the binding commitments accepted by the CMA on 6 August 2025.

Contact the Monitoring Trustee

Justin Menezes, Partner, Forvis Mazars LLP xx-xxxx-xxxx, xxx@xxx.xx (mailto:xxx@xxx.xx))

Decision to accept binding commitments

6 August 2025: the CMA has published a non-confidential version of its decision to accept commitments from American Airlines, International Consolidated Airlines Group (British Airways, Iberia and Aer Lingus) and Finnair.

On 28 March 2025, the CMA announced that it was giving notice of its intention to accept commitments in this investigation and consulted on the proposed commitments. On 2 July 2025, following feedback on the first consultation, the AJBA airlines offered modified commitments. The CMA held a second public consultation on the modifications in July 2025. After careful consideration of further feedback received, the CMA has decided to accept the modified commitments.

To address the CMA’s competition concerns, the AJB airlines have committed to:
- give competitor airlines slots for take-off and landing at London airports on the London-Boston, London-Miami, and London-Chicago routes – this will allow rivals to start offering flights on these routes or increase the number of flights they currently operate
- carry a minimum number of ‘local passengers’ on the London-Dallas route each year (passengers that start and end their journeys in these cities) – this will protect against a reduction in services on the route and help to constrain prices
- support competing airlines on the Boston, Chicago and Miami routes through other measures, including giving access to connecting passengers on preferential terms
A tender process for slots for the IATA Summer 2026 Season will take place in summer and autumn 2025.

Formal acceptance of commitments by the CMA has brought the investigation to an end, with no decision being made as to whether the Competition Act 1998 has been infringed.
- Decision to accept commitments (PDF, 832KB) (https://assets.publishing.service.gov.uk/media/68930d41486754ec288784ae/Decision_to_accept_commitments.pdf) (6.8.25)
- Appendix 1A: AJBA commitments (PDF, 338KB) (https://assets.publishing.service.gov.uk/media/68922cfd486754ec2887849a/Appendix_1A_-_AJBA_commitments.pdf) (6.8.25)
- Appendix 1B: Comparison of the final commitments against the modified commitments offered by the parties on 2 July 2025 (PDF, 492KB) (https://assets.publishing.service.gov.uk/media/68923334f15b237bf66109b4/Appendix_1B_-_Comparison_of_the_Final_Commitments_as_against_the_Modified_Commitments.pdf) (6.8.25)
- Appendix 1C: Comparison of the final commitments against the initial commitments offered by the parties in March 2025 (PDF, 488KB) (https://assets.publishing.service.gov.uk/media/68932434f97cd7adaa2be01c/Appendix_1C_-_Comparison_of_the_Final_Commitments_as_against_the_Initial_Commitments.pdf) (6.8.25)
Consultation on modified commitments

3 July 2025: The CMA published a notice of intention to accept the modified commitments offered by American Airlines, International Consolidated Airlines Group (British Airways, Iberia and Aer Lingus) and Finnair and invited representations from interested third parties on these modified commitments. The CMA will consider any representations made in response to the consultation before making a final decision on whether or not to accept the modified commitments.

Between 28 March and 23 April 2025, the CMA consulted on initial commitments offered by the AJB airlines. The CMA heard from six third parties, including five airlines, who agreed with the CMA’s provisional view that the AJB raises competition concerns and suggested that the commitments should be strengthened in a number of areas. The CMA has carefully considered the feedback and, where appropriate, subsequently raised concerns with the AJB airlines.

The AJB airlines have now offered to make changes to the commitments to include an additional slot on the London – Boston route to be made available under certain conditions; enable the slot on the London – Chicago route to be operated more flexibly in the Summer seasons; increase the minimum passenger volumes for the ‘Local Passenger Volume Commitment’ on the London – Dallas route; and improve aspects of the special prorate agreements (SPAs) commitment offered, including by increasing the geographic scope of routes available. The AJB airlines also offered to make various other changes concerning the terms and process for obtaining and using slots, as well provisions on monitoring rights and obligations.
- Consultation on modified commitments in respect of the Atlantic Joint Business Agreement (https://connect.cma.gov.uk/consultation-on-modified-commitments-in-respect-of-the-atlantic-joint-business-agreement) (3.7.25)
Consultation on commitments

28 March 2025: The CMA published a notice of intention to accept commitments offered by American Airlines, International Consolidated Airlines Group (British Airways, Iberia and Aer Lingus) and Finnair and invited representations from interested third parties on the proposed commitments. The CMA will consider any representations made in response to the consultation before making a final decision on whether or not to accept the proposed commitments.

Consultation on proposed commitments in respect of the Atlantic Joint Business Agreement (https://www.gov.uk/government/consultations/consultation-on-proposed-commitments-in-respect-of-the-atlantic-joint-business-agreement) (28.3.25)

Press release: CMA proposes to accept commitments to protect competition on UK-US passenger routes (https://www.gov.uk/government/news/cma-proposes-to-accept-commitments-to-protect-competition-on-uk-us-passenger-routes) (28.3.25)

Outcome of the 2023 slot award process

30 January 2024: In accordance with the CMA’s Interim Measures Directions issued on 4 April 2022, the CMA has approved the further use of the four available remedy slots by airlines which compete with the AJB airlines, maintaining additional competition whilst the CMA continues its investigation. Following a tender process, Virgin Atlantic Airways has been awarded a daily slot pair to operate services on the London-Boston route for four IATA Seasons commencing in IATA Summer Season 2024. Virgin Atlantic Airways will continue to operate a daily slot pair on the London-Miami route and Delta Air Lines will continue to operate a daily slot pair on each of the London-Dallas (via Atlanta) and London-Boston routes. It is anticipated that all four of the remedy slots will be operated by Virgin Atlantic Airways and Delta Air Lines until the end of IATA Winter season 2025.

Decision to issue interim measures and extending remedies until 2026

4 April 2022: Due to the continued impact of the coronavirus (COVID-19) pandemic on the aviation sector and the fact that material recovery is taking longer than was anticipated in 2020, the CMA wants to ensure that the remedies made available under the 2020 Interim Measures continue to be available for 2 additional years. As a result of these unprecedented circumstances, the CMA is not in a position to complete its investigation in advance of the expiry of the 2020 Interim Measures in March 2024. A tender process will take place in autumn 2023 for the remedy slots for the additional 2 years.
- Decision to issue interim measures (PDF, 418KB) (https://assets.publishing.service.gov.uk/media/624ac1c5d3bf7f32b2e52601/Investigation_Atlantic_JointBusinessAgreement_InterimMeasures_--.pdf) (4.4.22)
- Appendix: Interim measures directions (PDF, 204KB) (https://assets.publishing.service.gov.uk/media/624ac1448fa8f5277c0169d9/Appendix_-_Directions_April_2022_-.pdf) (4.4.22)
The 2022 Interim Measures issued by the CMA will expire in March 2026, by which time it is expected that the airline sector should be in a more stable position. The CMA plans to complete its investigation and, if appropriate, put in place a longer-term remedy, before the interim measures expire.

London-Boston slot awarded in 2021

22 February 2021: The CMA has approved a Slot Release Agreement which will allow a new competitor, United Airlines, to enter the London-Boston route. The CMA has made this award in accordance with the terms of Clause 3 of the CMA’s Interim Measures Directions issued on 17 September 2020 and following a tender process in Autumn 2020. In that process, United Airlines was awarded a daily slot pair for six IATA Seasons commencing in IATA Summer Season 2021. The CMA understands that United will announce its plans for servicing the route in due course (taking into account the ongoing COVID-19 pandemic and related restrictions).

Decisions not to accept commitments and to issue interim measures

21 September 2020: A Monitoring Trustee has been appointed, in accordance with clause 10 of the Interim Measures Directions. Find more information about the AJBA Monitoring Trustee (https://www.mazars.co.uk/Home/Services/Audit-Assurance-Services/Monitoring-Trustee-Services/British-Airways-American-Airlines-Iberia) or contact xxx@xxx.xx (mailto:xxx@xxx.xx).

17 September 2020: Having considered representations received in response to the May 2020 commitments consultation and as a result of the uncertainty created by the coronavirus (COVID-19) pandemic on the aviation sector, the CMA has decided that it would not be appropriate to accept the commitments offered by American Airlines and International Consolidated Airlines Group.

The CMA will not be able to complete its investigation before the expiry of various agreements currently in place pursuant to the Commission’s 2010 commitments. This means that an ‘enforcement gap’ (meaning a situation whereby there are no remedies in place to address the competition issues related to the AJBA) would have arisen if action was not taken urgently on an interim basis. Such an enforcement gap would significantly negatively impact the public interest (i.e. the interests of protecting competition and, by extension, consumers). Accordingly, the CMA has decided to issue interim measures directions.

The interim measures which have been imposed effectively extend the terms of the 2010 Commitments for an additional 3 years until March 2024. Airlines currently operating slots on London to Boston, Dallas and Miami routes pursuant to the 2010 commitments will continue to operate these slots for an additional year, until March 2022.

A tender process will take place in March 2022 for these slots for the remaining two years. A tender process will be undertaken this autumn in relation to a second slot on the London to Boston route.
- Decision to issue interim measures (PDF, 411KB) (https://assets.publishing.service.gov.uk/media/5f621a70e90e072bc1a7533e/AJBA_Decision_to_issue_interim_measures_170920.pdf) (17.9.20)
- Appendix: Interim measures directions (PDF, 201KB) (https://assets.publishing.service.gov.uk/media/5f6330fae90e075a01d2f4b2/AJBA_Appendix_Interim_measures_directions_170920.pdf) (17.9.20)
- Decision not to accept commitments (PDF, 122KB) (https://assets.publishing.service.gov.uk/media/5f621e07d3bf7f723ad68c0b/Atlantic_Final_Notice_of_decision_not_to_accept_PCs.pdf) (17.9.20)
- Press release: CMA acts to protect competition on UK-US airline routes (https://www.gov.uk/government/news/cma-acts-to-protect-competition-on-uk-us-airline-routes) (17.9.20)
The interim measures issued by the CMA expire in March 2024, by which time it is expected that the airline sector should be in a more stable position. The CMA plans to complete its investigation and, if appropriate, put in place a longer-term remedy, before the interim measures expire.

Consultation on commitments

7 May 2020: The CMA has published a notice of intention to accept the commitments offered by International Consolidated Airlines Group and American Airlines and invited representations from interested third parties. The CMA is seeking views on the proposed package, but this comes at a time when the coronavirus (COVID-19) pandemic is having a major impact on the aviation sector. In the CMA’s discussions with airlines, they have emphasised the importance of certainty about the future availability of slots, due to the imminent expiry of the 2010 commitments. The CMA is therefore proceeding to market test the proposed package but is also giving additional time for responses if required.
- Notice of intention to accept binding commitments (PDF, 545KB) (https://assets.publishing.service.gov.uk/media/5ec4f1cde90e071e2b3b28d1/BA_AA_Notice_of_Intention.pdf) (7.5.20)
- Press release: CMA consults on BA and American Airlines commitments (https://www.gov.uk/government/news/cma-consults-on-ba-and-american-airlines-commitments) (7.5.20)
Interim measures application dismissed

30 January 2020: On 4 October 2019, Virgin Atlantic Airways Limited submitted an application to the CMA requesting that the CMA exercise its power to issue an interim measures direction to American Airlines Inc.

The CMA’s final decision not to impose the requested measures was issued to Virgin Atlantic Airways Limited on 10 January 2020. This decision does not have a bearing on the outcome of the CMA’s investigation into the AJBA, which remains ongoing. In the circumstances of this case and in the light of the continuing investigation, the CMA does not intend to publish a summary of its decision at this time.

Case information

On 11 October 2018, the Competition and Markets Authority (CMA) launched a competition investigation into the Atlantic Joint Business Agreement. In line with the approach of the European Commission when it first investigated the agreement during 2009 to 2010, the investigation is being conducted under the rules on agreements restrictive of competition under the Chapter I prohibition in the Competition Act 1998.

Five airlines are currently signed up to the Atlantic Joint Business Agreement: American Airlines, Aer Lingus, British Airways, Iberia, and Finnair.

Following an investigation under EU competition law, in 2010 the European Commission accepted commitments from the parties in relation to 6 routes to address potential competition concerns: London-Dallas, London-Boston, London-Miami, London-Chicago, London-New York and Madrid-Miami. These included a commitment to make landing and take-off slots available to competitors at either London Heathrow airport or London Gatwick airport. These commitments were binding for 10 years. See the Commission’s Commitments Decision (PDF, 223KB) (http://ec.europa.eu/competition/antitrust/cases/dec_docs/39596/39596_4342_9.pdf) for more information.

On expiry of the parties’ commitments, in 2020, the European Commission may have re-assessed the agreement, but there was no requirement for it to do so. As 5 of the 6 routes subject to commitments are from the UK, and to prepare for the time when the European Commission will no longer have responsibility for competition in the UK, the CMA decided to review afresh the competitive impact of the agreement in anticipation of the expiry of the commitments.

No assumption should be made that the Atlantic Joint Business Agreement infringes competition law.

Further detail of the CMA’s procedures in Competition Act 1998 cases is available in our guidance.

Notes

Parties under investigation: American Airlines Group Inc; International Consolidated Airlines Group SA (including Aer Lingus Limited, British Airways plc and Iberia Líneas Aéreas de España SA); and Finnair OYJ. Aer Lingus is a signatory to the agreement but is not yet operating any services as part of the Atlantic Joint Business Agreement as this is subject to the United Stated Department of Transportation extending Anti-Trust Immunity (currently under review).

The CMA is liaising with the United States Department of Transportation in relation to the investigation.

Contact
- Assistant Project Director: Eren Kilich xx-xxxx-xxxx, xxx@xxx.xx (mailto:xxx@xxx.xx))
- Project Director: Brian Jackson xx-xxxx-xxxx, xxx@xxx.xx (mailto:xxx@xxx.xx))
- Senior Responsible Officer: Juliette Enser xx-xxxx-xxxx, xxx@xxx.xx (mailto:xxx@xxx.xx))