Don't miss

Replay


LATEST SHOWS

REPORTERS

The booming business of cannabis in Spain

Read more

EYE ON AFRICA

Tanzanian President dismisses almost 10,000 public servants over forged college certificates

Read more

MEDIAWATCH

French Election: Abstention, Anger & Apathy

Read more

THE WORLD THIS WEEK

Macron vs. Le Pen: France's bitter presidential run-off race (part 1)

Read more

THE WORLD THIS WEEK

Trump's First 100 Days, The Pope in Egypt (part 2)

Read more

FOCUS

Egypt's Coptic Christians targeted by Islamic State group

Read more

THE CAMPAIGN BEAT

France's wartime past takes centre stage in presidential campaign

Read more

#TECH 24

How one NGO is using 3D printers to improve disaster relief

Read more

REVISITED

What remains of Nicaragua’s revolution?

Read more

Business

British Airways and Iberia sign merger deal

Text by News Wires

Latest update : 2010-04-08

British Airways and Spanish carrier Iberia have signed a merger agreement, sealing a long-awaited deal to create one of the world's leading airline groups.

AFP - British Airways and Spanish flag carrier Iberia said Thursday they had signed a merger agreement to create a leading European airline following a preliminary accord in November.

A joint statement said the new group would fly to 200 destinations, carry 58 million passengers a year and would create annual savings of about 400 million euros (533 million dollars) by the fifth year of the merger.

The tie-up, which requires approval from European Union competition authorities along with that of BA and Iberia shareholders, is expected to be completed by late 2010.

"The merged company will provide customers with a larger combined network," said BA chief executive Willie Walsh.

"It will also have greater potential for further growth by optimising the dual hubs of London and Madrid and provide combined investment in new products and services."

Iberia chairman Antonio Vasquez called the deal "an important step toward creating one of the world's leading global airlines."

Date created : 2010-04-08

  • AVIATION

    US approves British Airways - American Airlines alliance expansion

    Read more

COMMENT(S)