BA and Iberia sign merger agreement
Published: 08/04/2010 - Filed under: News »
British Airways has this morning (April 8) announced that it has signed an agreement paving the way for its merger with Spanish carrier Iberia.
The deal will make the loss making companies the second biggest airline in Europe in terms of passenger numbers.
The completion of the merger is subject to regulatory approval from the relevant competition authorities including the European Commission and to approval by both British Airways and Iberia shareholders.
Antonio Vazquez, Iberia's chairman and chief executive, said: "This is an important step in the process towards creating one of the world's leading global airlines that will be better equipped to compete with other major airlines and participate in future industry consolidation. We look forward to concluding the deal before the year end."
Willie Walsh, British Airways chief executive, said: "The merged company will provide customers with a larger combined network. It will also have greater potential for further growth by optimising the dual hubs of London and Madrid and providing continued investment in new products and services."
The news comes amid reports that BA will be renamed International Airlines. According to BA, a new holding company to be known as International Airlines Group will be set up, but both BA and Iberia will retain their individual brands.
For more information visit ba.com, iberia.com.
Report by Martin Ferguson
Read more about...
Bookmark with:
ADD A COMMENT »
AirAsia X launches Empty Seat Option 13/02/2012
Passengers can now choose to book the seat next to them, if available, for a small fee — full story »
New York's Cassa Hotel joins Viceroy 12/02/2012
The 165-room Midtown Manhattan property has been added to the group's Urban Retreat Collection — full story »
JW Marriott Marquis Dubai looks to scale heights with Emirates 12/02/2012
Tallest stand-alone hotel will be looking to leverage global benefits with owner — full story »
