British Airways and Iberia agree on a merger deal |
News - Financial News | |||
Written by Hugh McManus | |||
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November 13, 2009: British Airways and troubled Spanish national airline, Iberia have reached a preliminary agreement on a merger; the merger will take place in 2010. Under the agreement, BA would hold a 55% stake and Iberia a 45% stake in the new company. BA already owns 13.5% of Iberia. The combination would create a carrier with over 400 aircraft and 200 destinations.
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