UPDATE: EU approves American-British Air partnership

Here is another story from late last week that is likely to influence the cost of trans-Atlantic air travel. The European Union, after a long study period, approved the partnership of American Airlines and British Airways, allowing them to set schedules and fares jointly and share revenue -- a good thing for their bottom lines, perhaps a helpful thing for frequent long-haul travelers, and an uncertain thing for the prices the rest of us will pay as long as airlines in this and other alliances with antitrust immunity exist. Read more from a British publication about the "tie-up."

UPDATE: The U.S. Department of Transportation approved the partnership on Tuesday. Here's that story.