BA And Iberia Shareholders Confirm Merger

THE SHAREHOLDERS of European flag carriers British Airways (BA) and Iberia have voted to approve the airlines’ merger.  Their backing is the final stage in the long-awaited amalgamation of the two oneworld alliance members and the formation of a new holding company, International Airlines Group, which will commence trading in mid-to-late January.  “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,” said BA’s Chief Executive Willie Walsh, who will now take a similar role at the new holding company.  The UK and Spanish airlines will retain their individual brands and operations although annual synergies are expected to generate approximately €400 million in savings from 2015.  (Photo Newscast – British Airways)