AIRLINES: "EL PAIS", IBERIA BOD SAYS YES TO BA MERGER
(AGI) - Rome, 12 nov. - The Board of Directors of Iberia Airlines has green lighted a merger with British Airways according to the
online edition of Spanish daily, "El Pais".
According to the agreement, the HQ of the new company will be in London, while the President will be Antonio Vasquez, current head of the Spanish airline. Representing BA, Willie Walsh will occupy his current role in the new BoD, in which both companies will have an equal number of representatives. The current President of BA, Martin Broughton, will become VP of the new company.
According to El Pais' source, Iberia will retain 45% of the new company while British Airways will keep the remaining 55%: both companies will retain their own brandnames.