American Airlines and China's Hainan Airlines said Wednesday they've signed a deal that will allow customers to fly on both airlines on a single ticket.

The airlines say it will also allow frequent fliers of both airlines a new place to redeem miles. This agreement, called a codeshare, allows airlines to expand their available destinations without spending money to expand.

The agreement, subject to government approval, will open many new markets the airlines' say will complement American's existing service to China. Currently, American operates nonstop service from Chicago to Beijing and Shanghai and from Los Angeles to Shanghai.

American Airlines' parent company AMR Corp. filed for bankruptcy protection last week, but the company says it will be "business as usual" as it works through the court restructuring.

 
SOURCE: money.msn.com