BA & Iberia to merge
Same old sale old
Don't hold the front page..the News is that the talks continue as they have done for months, and there may be an announcement
BBC NEWS | Business | BA and Iberia hold merger talks
Despite the banner thats been running on Sky for a while, seemingly claiming that "El Pais" claim it's a done deal, it would appear that there's nothing new to report.....at this time.
BBC NEWS | Business | BA and Iberia hold merger talks
Despite the banner thats been running on Sky for a while, seemingly claiming that "El Pais" claim it's a done deal, it would appear that there's nothing new to report.....at this time.
I actually doubt that this merger will ever take place but could someone out there please explain to me what attraction this deal actually has to Iberia and BA?
If I were Spanish, I would not touch this idea with a bargepole. I, for one, was very grateful that I was banking with Santander and not with one of those good-old "cast-iron" British banks like RBS or HBOS in recent times.
Anyone who wants to merge with a company whose pension fund deficit exceeds the total possible value of the airline should think very carefully indeed. (It's "Follow the yellow brick road" stuff.)
Mind you, a Spanish takeover of BA might just be interesting and would make up for the losses they sustained in 1588.
If I were Spanish, I would not touch this idea with a bargepole. I, for one, was very grateful that I was banking with Santander and not with one of those good-old "cast-iron" British banks like RBS or HBOS in recent times.
Anyone who wants to merge with a company whose pension fund deficit exceeds the total possible value of the airline should think very carefully indeed. (It's "Follow the yellow brick road" stuff.)
Mind you, a Spanish takeover of BA might just be interesting and would make up for the losses they sustained in 1588.
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From the BA Shareholders web site:
Further to recent market speculation, British Airways confirms that the British Airways and Iberia Boards are holding separate meetings today, 12 November, to consider a potential transaction. However, no decisions have been taken and, at this time, there can be no guarantee that a transaction will be forthcoming. A further announcement will be made in due course, if appropriate.
Ecce Homo! Loquitur...
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.
(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.
Merging the fiery British temperament with the Spanish rigorous sense of organisation... this can only be a roaring success, one would think...
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Merging the fiery British temperament with the Spanish rigorous sense of organisation... this can only be a roaring success, one would think...
Merging the fiery British temperament with the Spanish rigorous sense of organisation... this can only be a roaring success, one would think...
I was thinking more along the lines of ailing British company and manyana culture, so no, I wouldn't think so.
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Merger
Torquelink
No relation to Torquemada?
How about "BArmada?"
The BA part could have an exclusive "Drake Victor" approach with the hold over Plymouth Ho.
The Spaniards could be held at Cape St Vincent, as they were in 1797.
No relation to Torquemada?
How about "BArmada?"
The BA part could have an exclusive "Drake Victor" approach with the hold over Plymouth Ho.
The Spaniards could be held at Cape St Vincent, as they were in 1797.
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These are such typical whinging 'British' comments..... How about a change in the thread for positive. There have been years of complaints about BA not sorting its self out and needing to consolidate with another European carrier. Now it seems to be happening you lot are whining..!!! I do work for BA (not a Manager) and think its great news, just look at the share prices of both companies. But of course all those on here know so much more than Investment banks etc etc.... 
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Deal pretty much done
New holding company to be formed
55% BA owned
45% Iberia Owned
Walsh to be CEO
Vazquez (Iberia) to be Chairman
Broughton to be Vice chairman
HQ to be in Madrid (Tax benefits)
Operating HQ to be at LHR
New holding company to be formed
55% BA owned
45% Iberia Owned
Walsh to be CEO
Vazquez (Iberia) to be Chairman
Broughton to be Vice chairman
HQ to be in Madrid (Tax benefits)
Operating HQ to be at LHR
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merger may take upto 12 months from today and Iberia reserve the right to walk away from the deal......I hear the BA 3 billion pension deficit is a real hurdle that may well scupper the deal.Add to that Iberia cabin crew taking industrial action and BA crew balloting for similar action,I would not put money on this being a done deal....lets wait and see....see you in 12 months then !
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It will be interesting to see the safety fallout from this....
Biggest safety threat is in times of transition, whether it be switching to/from cruise or employee shift changes at a Nuclear Power plant.. real interesting to see how two separate language organizations merge cultures.
at the least, it'll be fun flipping through the Spanish language text of everything before getting to the English part.. like setting up a bloody DVD player!
at the least, it'll be fun flipping through the Spanish language text of everything before getting to the English part.. like setting up a bloody DVD player!
Al contrario
Just like AF/KLM the operating airlines will remain separate entities. There will be a joint holding company (set up to encompass other airlines as well in the future) but I doubt I will be using my Spanish anytime soon.
Hasta maņana amigo......
Just like AF/KLM the operating airlines will remain separate entities. There will be a joint holding company (set up to encompass other airlines as well in the future) but I doubt I will be using my Spanish anytime soon.
Hasta maņana amigo......