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Whilst I agree with some of your comments, when BA and Iberia merged, BA shareholders got 55% of the newly formed company. Most multinational companies and publicly quoted companies are owned by fund managers or large investors like Qatar. If my company had the backing and finances of a middle eastern government, I would buy 20% of them as well.
Wikipedia show the following about IAG
International Consolidated Airlines Group, S.A., often shortened to IAG, is an Anglo-Spanish multinational airline holding company with its registered office in Madrid, Spain and its operational headquarters in London, England.
I still view British Airways as a British company as I assume that most of their staff are paid in the UK, so BA contributes NI, tax payments etc to the UK government. Personally I will continue to support what I perceive as a British company. After all I would rather be supporting UK plc than a foreign plc. If more Brits did this we could turn this country around. BA has its failings…I enjoy its premium service, as for the rest they are just competing on price, not service, it seems to have become the way of the world!
Ofcourse BA plays its marketing strength and trademarks – its an international business and uses LHR to hub most of the world, as do the other legacy carriers at their hubs.
Competition is the other legacies (avoid paying longhaul APD!) and some newcomers and good luck to them.
We print here their blessings and faults and air travel has always been evolutionary, we’re lucky to have the competion and reasonable regulation!