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12/11/2009
Iberia 'Da La Bienvenida A' BA
Spanish airline Iberia may soon be welcoming a new partner.
The UK carrier, British Airways, has confirmed it is considering a merger deal with Iberia with a view to operating from a Madrid HQ.
A British Airways statement said: "Further to recent market speculation, British Airways and Iberia boards are holding separate meetings today, to consider a potential transaction.
"However, no decisions have been taken and, at this time, there can be no guarantee that a transaction will be forthcoming.
"A further announcement will be made in due course, if appropriate."
Issues such as who will run the combined company - likely to be BA Chief Executive Willie Walsh - and where the company's headquarters will be are up for agreement but the expanded airline group is likely to be based in Madrid for tax purposes.
Both sides will continue to operate as individual airlines with their own brand names, however.
Iberia has also confirmed that the deal being discussed would make BA the slightly dominant partner in the deal.
The potential merger would give BA a 55% share in the merged company, while Iberia would own 45%.
(BMcC/GK)
The UK carrier, British Airways, has confirmed it is considering a merger deal with Iberia with a view to operating from a Madrid HQ.
A British Airways statement said: "Further to recent market speculation, British Airways and Iberia boards are holding separate meetings today, to consider a potential transaction.
"However, no decisions have been taken and, at this time, there can be no guarantee that a transaction will be forthcoming.
"A further announcement will be made in due course, if appropriate."
Issues such as who will run the combined company - likely to be BA Chief Executive Willie Walsh - and where the company's headquarters will be are up for agreement but the expanded airline group is likely to be based in Madrid for tax purposes.
Both sides will continue to operate as individual airlines with their own brand names, however.
Iberia has also confirmed that the deal being discussed would make BA the slightly dominant partner in the deal.
The potential merger would give BA a 55% share in the merged company, while Iberia would own 45%.
(BMcC/GK)
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Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
