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Iberia and British Airways Sign Merger Agreement

Iberia and British Airways Sign Merger Agreement

08 April 2010 15:54 (UTC +04:00)

Baku â€“ APA-Economics. Spanish airline Iberia LÃneas AÃ©reas de EspaÃ±a SA and the U.K.’s British Airways PLC said Thursday they have signed a definite merger agreement, as both companies look to bulk up operations and better compete with the world’s largest air carriers, Wall Street Journal reported.

As a part of Thursday’s agreement, BA and Iberia would keep their separate brands and identities, but a new Iberia-holding company called International Consolidated Airlines Group SA would be created with a primary listing in London as well as a listing in Spain. The combined airline would have 408 aircraft flying to 200 destinations and carrying over 58 million passengers a year.

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