BA, Iberia reach deal to merge
November 16, 2009 |
British Airways and Iberia agreed to create one of the world's largest airlines, culminating more than 15 months of negotiation. The combination, which still could take another year to close, would create a new European carrier with annual revenue of about
BA and Iberia will continue to exist as brands and operating companies, maintaining their hubs in London and Madrid, said BA Chief Executive Willie Walsh, who will run the new company. Current Iberia Chairman Antonio V
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