BA / Iberia merger to be sealed next week
20.03.10
British Airways and Iberia will meet next Thursday (March 25) to approve their merger deal, Expansion newspaper reports, citing sources close to the companies. Lawyers for the airlines have already registered the name International Airlines Group for the merged entity, according to the paper.
The merger will be conditional on shareholder agreement and the go ahead from competition authorities. It will start to fly at the end of the year with Antonio Vazquez, current Iberia chairman, as the merged group's chairman, the paper reported. The planned merger will create the world's third-largest airline by revenue. The two airlines will continue to operate as separate brands, following the blueprint of the Air France / KLM merger, with BA continuing to be UK based.
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