[QUOTE=imapilotaz;26826452]That would be disastrious for AA and make them a non-player worldwide. They cant survive on an ATI/JV with just AY to/thru Europe.

Like another poster said, the biggest issue will be the Open Skies arrangement. Will a non-EU company (IAG) be able to own EU and non-EU airlines at 100%. What will the new agreements take shape as (since ALL air service agreements will need to be renegotiated).

While not 100% the same, if a state in the US decided to secede, there would be massive confusion and problems. This isnt too far from what's happening here.[/QUOTE