British Airways, American and Iberia, all members of the Oneworld airline alliance, have asked for immunity to better coordinate flight schedules, marketing and other operations, the Fort Worth Star-Telegram reported Thursday.

Royal Jordanian and Finnair are also part of the arrangement, the Star-Telegram reported.

"We believe our proposed cooperation is an important step towards ensuring that we can compete effectively with rival alliances and manage through the challenges of record fuel prices and growing economic concerns," Gerard Arpey, American's chief executive officer said in a statement.

"This strategic relationship strengthens competition by providing consumers with easier journeys to more destinations with better-aligned schedules and frequencies," said British Airways Chief Executive Willie Walsh.