British Airways falls on EU investigation into alliances - sees gaping hole in cash generation

British Airways shares lost all their gains on Friday, slumping 7.1% yesterday, as the European Commission opened an anti-trust investigation into global airline alliances. Investors on both sides of the Atlantic are concerned the investigation could result in changes to current alliance functioning, as well as placing a further hurdle in the way of the proposed oneworld application for immunity on the Atlantic. [168 words]

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• European selected airlines daily share price movements (% change): 20-Apr-09