British Airways wants to buy Iberia?
The airline British Airways (BA) studies "all the opportunities" of consolidation in Europe, but it does not plan anything "imminent", said yesterday a spokesman of that company in relation to the rumors on a fusion with the Iberia Spanish. "Iberia always has been a near ally and we worked very closely together", declared a spokesman, who needed that "all the others are speculation". The rumors of a possible fusion of BA and Iberia have arisen again after British Wednesday announced the sale of their actions in the airline company Australian Qantas with views to "a future European consolidation". BA and Iberia have in march agreements of shared codes, and British has 9% of the Spanish. But the BA spokesman insisted on which the decision to undo of the 18,25% of participation in Qantas, that has allowed him to collect 637 million euros (775,8 million dollars), will be destined to pay part of its gross debt, considered on June in about 8 thousand 400 million euros (10 thousand 231 million dollars). "the money of Qantas will be used to pay part of the gross debt and to balance the balance", affirmed the spokesman. This Wednesday, the executive director of the British airline, Rod Eddington, said that "a good balance will place to British Airways in a good position for any future European consolidation", and considered to Iberia "a key" ally in their European plans. The past 10 of December, Commission European approved that British and Iberia carry out the joint operation of passages in Europe, that allows to a saving of costs and greater competitiveness, in addition to more services and frequencies for the users. Since then, the rumors on a possible fusion of both companies have been recurrent, that would have to be approved by the authorities of defense of the competition. The BA actions lowered to Wednesday in stock-market of London 7,25 pennies, up to 228,75, after announcing the sale of their participation in Qantas, and the tendency persisted yesterday, with a fall of the 1,5% towards the 14,00 GMT. The fusions of airlines of different countries are virtually impossible, since the rights of landing in the outside are based on the nationality, which means that Iberia would lose its rights if its property became British.
I know that the traslation is not good.
Fot anyone who want to have a go in Spanish:
http://www.prensa.com/hoy/negocios/25926.html