The big news in transatlantic travel this week was the announcement that British Airways and Iberia Air are going to merge.

This is great news for the frequent transatlantic traveller. It will allow the two airlines to combine costs, partner on profitable routes and compete against other airlines on transatlantic fares.

Instead of focusing on competing with each other, they can now combine forces to compete with other more powerful European airlines. Competition is good in the airline business and consolidation will, in the end, benefit the consumer.

The merger will take years before the companies are fully integrated. And both airlines will keep their separate identities. They will mostly work together on backend operations such as route planning, back office operations, fare structures and placing large plane orders.

It's certainly and exciting for transatlantic airlines. This couple with the Open Skies Agreement will mean better travel for all transatlantic passengers.