British Airways to Merge With Iberia
British Airways to Merge With Iberia
Shareholders of British Airways and Iberia Lineas Aereas de Espana SA have approved a proposed $9 billion merger that will expand the UK company's dominance of lucrative trans-Atlantic routes and bring the company closer to market leaders Air France-KLM and Deutsche Lufthansa AG.
British Airways CEO says the company plans further acquisitions, too, as it attempts to cut costs and expand into more markets. The London-based airline posted its first profit in two years during the quarter ending September 30th, thanks in part to a surge in demand for business travel. Similarly, Iberia made a return to profitability in the second quarter of this year.
The deal was agreed to by Iberia's owners in Madrid and three British Airways resolutions approving the deal won support from more than 99 percent of voters in London. British Airways' cabin- crew union marked the occasion by announcing plans for a strike ballot in a 21-month dispute over pay and staffing levels.
Monday's approval gives the companies the opportunity to begin coordinating flight schedules and reorganization details. The deal is scheduled to take effect on January 21st after receiving the blessing of the High Court on January 19th.
Shareholders of British Airways and Iberia Lineas Aereas de Espana SA have approved a proposed $9 billion merger that will expand the UK company's dominance of lucrative trans-Atlantic routes and bring the company closer to market leaders Air France-KLM and Deutsche Lufthansa AG.
British Airways CEO says the company plans further acquisitions, too, as it attempts to cut costs and expand into more markets. The London-based airline posted its first profit in two years during the quarter ending September 30th, thanks in part to a surge in demand for business travel. Similarly, Iberia made a return to profitability in the second quarter of this year.
The deal was agreed to by Iberia's owners in Madrid and three British Airways resolutions approving the deal won support from more than 99 percent of voters in London. British Airways' cabin- crew union marked the occasion by announcing plans for a strike ballot in a 21-month dispute over pay and staffing levels.
Monday's approval gives the companies the opportunity to begin coordinating flight schedules and reorganization details. The deal is scheduled to take effect on January 21st after receiving the blessing of the High Court on January 19th.
Comments
Top Stories
Latest DT's
-
1 month ago by Geno -
1 month ago by dallaseste
-
1 month ago by Geno
-
1 month ago by Geno
-
1 month ago by Geno
-
1 month ago by Geno
-
1 month ago by Geno
-
1 month ago by Geno
-
2 months ago by dallaseste
Top Authors
Subscribe
Games
Alias
3 Foot Ninja 2
ALIAS 2
Air Dodge
Battle Tanks
Bomber Bob
Cable Capers
Gem Mania
Hacker
Hostile Skies
Mission Mars
Bowling
Samurai Warrior
The Pharoh's Tomb
Monkey Lander
Muay Thai
Action
Donkey Kong Banana Barrage
501 Dart Challenge
Rooftop Skater
Zelda
Donkey Kong
Xtreme Pinball
Tetris
Connect 4
Battleships
Frogger
Penguin Push
Online Video Poker
Spank The Monkey
Mob Pay Back
Dealer
Yeti Sports Seal Bounce
Hold Your Drink Steady
Solitaire
Canyon Glider
3D Sudoku
Metal Slug Rampage
Street Fighter II
Flashman
Disc Golf
Table Tennis
Ninja Air Combat
Celebrity Hitman Terrorist Alert
Spider Solitaire
Tubin
Presidential Knockout
Global Player
Ma Balls
Baseball
Beckham Fit
0 Comments
Click here to sign up now.