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Iberia and British Airways announce merger launch date

1-Dec-2010 11:06 AM

Iberia and British Airways confirmed (30-Nov-2010) the merger will be officially consummated on 24-Jan-2011 when shares in International Airlines Group (IAG) will be listed on the London and Madrid stock exchanges. [more]

Iberia: "Today we are announcing the launch of one of the most important deals in the present and future of the airline industry. We are joining forces to become the genuine protagonists of the consolidation that has become necessary for our industry in recent years. We are now preparing for take-off, propelled by two of the more powerful and efficient engines in the industry: Iberia and British Airways." Antonio Vázquez, Chairman. Source: Iberia, 30-Nov-2010.

British Airways: "This is the start of our new and exciting adventure. We have a long history and complement each other with our network strengths and strong brands in different markets. IAG has been deliberately structured to be scalable to accommodate future growth through further mergers and acquisitions. We don’t want to stand on the sidelines – we want to lead the industry’s consolidation." Willie Walsh, CEO. Source: British Airways, 30-Nov-2010.