By Ian Walker

LONDON--International Consolidated Airlines Group SA's (IAG.LN) British Airways said Friday that Japan Airlines Co. Ltd. (9201.TO) has put in an application seeking antitrust immunity for its Spanish airline Iberia to join a business venture on flights between Europe and Japan.

If successful four airlines, including Finnair, will cooperate commercially by sharing revenue and coordinating flight schedules and fares between Europe and Japan, British Airways said.

Iberia has already announced the launch of a new non-stop flight between Madrid and Tokyo Narita, which will start from October, the flag-carrying airline said.

Japanese Airlines has submitted its application to the Japanese Ministry of Land, Infrastructure, Transport and Tourism. The new joint business arrangement is subject to regulatory approvals, British Airways said.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

May 20, 2016 05:42 ET (09:42 GMT)