American Airlines and Australian airline Qantas are set to receive DOT approval to operate a joint venture

The US Department of Transportation is prepared to grant American Airlines and Australian airline Qantas approval for a joint venture.

The joint venture status will mean that the airlines can coordinate their flights and pricing on routes between the US and Australia without running afoul of antitrust laws.

Numerous international airlines partner and operate joint ventures on routes they both operate, such as American and British Airways, Delta and Virgin Atlantic, and United and Japanese airline All Nippon Airways.

Visit Business Insider's homepage for more stories.

The US Department of Transportation (DOT) is set on Friday to grant American Airlines Group Inc and Qantas Airways Ltd final approval to operate a joint venture after a prior effort was rejected in 2016, two people briefed on the matter told Reuters.

The department last month issued an order tentatively approving the joint business agreement and granting antitrust immunity to the airlines covering international service.