BA / Iberia Merger Sealed

BRITISH AIRWAYS (BA) ended trading on the London Stock Market on January 20 after a 24-year presence.  This was following the completion of a multi-billion-euro merger between it and Iberia of Spain, creating Europe’s second biggest airline.  “The merger has now become effective,” a statement said, as shares in the new company, International Airline Group (IAG), prepared to trade for the first time on January 24.
British Airways will hold 55% of IAG, while Iberia will own the remaining 45%.  Each carrier will retaining their current operations and individual brands, with BA boss Willie Walsh becoming CEO of the new group.
It is estimated that the merger will create annual savings of around €400million by the fifth year of the new company.