British Airways, Iberia Shareholders Approve Merger

In what is no surprise to those following the British Airways-Iberia-American Airlines merger, shareholders in British Airways and Spain's Iberia have approved a merger of the two carriers that will create the world's third-largest airline by revenue.

Reuters is reporting that the two firms, which announced merger plans in April and expect the deal to close in January, said Monday that investors had backed the combination at separate meetings.

The new company, International Airlines Group, will position the two airlines for further consolidation in the global airline sector as it emerges from a prolonged industry downturn.

The combination is expected to generate cost savings of $529.5 million after the fifth year.

Read more

Suggested Articles:

The Tourism Authority of Thailand and Avanti have launched a joint campaign to help advisors inspire FIT clients to plan a 2021 getaway. Read more.

Seven shows at MGM Grand, Luxor and Excalibur will take to the stage beginning November 6. Here's what you need to know.

The appointment of Matt Berna as Managing Director of North America comes as the company shifts focus for post-pandemic travel. Read more here.