The British Airways (BA) arm of IAG is under strain. Having seen its lucrative Qantas JV fade into history all eyes are now turning to its relationship with American Airlines (AA). Emirates has made no secret that it has been trying for some considerable time to partner with AA. Tim Clark is now openly stating that talks with AA are close to fruition. It is true to say that Emirates is on its own becoming a fourth global alliance. The airline has 14 code shares in place and is seemingly, if we look at Qantas share prices over the past

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