BA buys American Airlines' stake in Iberia
LONDON, Nov 15 (Reuters) - British Airways said on Wednesday it had purchased American Airlines' stake in Spanish carrier Iberia for 19 million euros ($24.29 million).
BA, Europe's third-largest airline, said in a statement it now owned about 10 percent of Iberia, up from 9 percent previously.
"The transaction is intended to preserve British Airways' two seats on the Iberia board," BA said in a statement. BA has played down the prospects of merging with Iberia or extending its joint venture with the Spanish carrier.