Shareholders of British Airways and Iberia have
voted in favour of a merger between the two airlines.
British Airways Chief Executive Willie Walsh,
said, “We’ve had a strong relationship with Iberia for more than a
decade and this merger will enhance both airlines’ strategic and
financial positions, creating benefits for our customers,
shareholders and staff ... The merger will create a new holding
company International Airlines Group that will be ideally placed
to lead future consolidation within the aviation industry. It will
also create annual synergies of €400 million from the fifth year.”
Following the merger, British Airways and Iberia
will retain their individual brands and airline operations.
It is intended that the new company,
International Airlines Group, will begin operations around 21
See other recent news regarding: