BA / Iberia deal ‘finalised in March’
24.09.08
British Airways' merger with Spanish airline Iberia should be finalised by March next year, its chairman said in an interview yesterday, the Guardian reports.
The two airlines are looking to merge under a holding company structure, where each would continue to operate, but with the shareholders of the larger BA owning a bigger slice of the new company. The firms are, however, still talking about management structure and the exact breakdown of the ownership stakes, Martin Broughton said.
He added that he expects BA's alliance with American Airlines to be approved this year. He said: ‘We would anticipate a decision by around the end of this year. We would expect to get approval from both sides (of the Atlantic).’
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