Iberia / BA deal next month?
21.01.10
British Airways and Iberia could seal their merger agreement as early as next month, the Spanish airline's largest shareholder, savings bank Caja Madrid, said. The bank's chairman, Miguel Blesa, told reporters at a presentation of the saving's banks results: ‘We're on the right track. I think February will be decisive for the deal. There's not much left that needs agreeing to, if anything at all. I don't know if it will be (signed) in February but it won't go past March.'
BA and Iberia announced a memorandum of understanding in November for a merger to create the world's third largest airline by revenue, after more than a year of negotiations. The main stumbling block to the merger is reported to be an agreement on how to address BA's multi-billion pound pension fund deficit.
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