The chief executives of British Airways and American Airlines, Willie Walsh and Gerard Arpey, are due to meet the US transportation secretary later this month to prepare the ground for much closer transatlantic co-operation between the two.

It is possible the chief executive of Spain’s Iberia will also attend the meeting, as the carriers, all members of the Oneworld global airline alliance, are considering applying for antitrust immunity for a three-way transatlantic joint venture.