Shareholders to rubberstamp BA/Iberia merger today
Sunday, 29 Nov, 2010
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The British Airways/Iberia merger is set to jump the final hurdle today when shareholders meet to approve the deal.
BA investors will meet in Westminster today to give the merger the stamp of approval while a similar meeting will take place in Madrid.
From January 24, the new company will be called International Airlines Group – a name that is purposefully vague as BA chief executive Willie Walsh has made it plain he wishes to bring more airlines into the fold in the future.
The company will be based in London and run by Walsh although it will be registered in Spain. The two brands will remain distinct.
It is hoped the move will create cost savings of up to £340 million. The new airline will have more than 400 aircraft at its disposal and employ around 57,000 people.
by Dinah Hatch
Dinah
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