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British Airways and Iberia to MergeApril 8, 2010 By: Jena Tesse Fox
Continuing to defy all the damage strikes and industrial actions can cause, British Airways has announced that it will change its name to International Airlines after its $7.5 billion merger with Spain's Iberia completes at the end of the year.
The British and Spanish flag carriers finally signed their merger agreement after a delay of over a week. The merged business, which will exist within a new holding company called International Consolidated Airlines Group, will trade on the stock exchange as International Airlines Group. Both businesses will continue to fly under the BA and Iberia brands.
After signing the deal, the airlines said they expect the deal to be formally completed by December.