BA, Iberia step closer to merger
LONDON – British Airways and the Spanish airline Iberia have reached a preliminary agreement for a merger that should be formalised early next year.
The BBC reports that the merger, which must be approved by the European Commission, would create one of the world’s biggest airlines.
Under its terms, Iberia would take a 45 percent stake and BA, which last week reported a six-month pre-tax loss of £292m, a 55 percent stake in the company.
“The merger will create a strong European airline well able to compete in the 21st Century,” said BA chief executive Willie Walsh.
“Both airlines will retain their brands and heritage while achieving significant synergies as a combined force.”
It would create an airline with 419 aircraft flying to 205 separate destinations, the two partners said.
Iberia’s chairman Antonio Vazquez would take the same role at the new company, while Walsh would become its chief executive.
.
BA already owns 13.5 percent of Iberia and the two carriers have a code-sharing agreement under the One World grouping of airlines, which allows them to sell seats on each other’s services.
Ian Jarrett
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
TAP Air Portugal to operate 29 flights due to strike on December 11
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Airbnb eyes a loyalty program but details remain under wraps