Air Berlin, Iberia Start Code-Share Agreement

Airlines Air Berlin PLC (AB1.XE) and Iberia said Friday they have entered a code-share agreement, effective immediately.

Code-sharing allows carriers to sell tickets for flights operated by other airlines under their own brand.

This is Air Berlin's fifth cooperation agreement with a member of the Oneworld airline alliance, Chief Executive Officer Joachim Hunold said. AMR Corp.'s (AMR) American Airlines and Finnair Oyj (FIA1S.HE) are among the airlines that already share codes with Air Berlin.

Air Berlin is set to become a full member of the Oneworld alliance in early 2012, having announced plans to join in July 2010. Other Oneworld members include Cathay Pacific Airways Ltd. (0293.HK), Japan Airlines Corp. (JALFQ) and British Airways, which like Iberia is part of Anglo-Spanish company International Consolidated Airlines Group SA (IAG.LN).

Air Berlin and Iberia intend to extend their code-share agreement to their frequent flyer programs, Air Berlin Topbonus and Iberia Plus.

-By Friedrich Geiger, Dow Jones Newswires; [phone]; [e-mail]