British Airways and Iberia miss merger deadline, but assure merger is going ahead
British Airways and Iberia stated they missed their deadline for the signing of a definitive merger agreement, due to “technical reasons”, but added there is no danger of any cancellation of the merger plans (Bloomberg, 31-Mar-2010). The agreement is still on course to be signed, according to BA. Reasons for the delay have not been made public, but BA confirmed it was not related to its pension debt issue.
British Airways: "We will not sign the merger agreement with Iberia in the first quarter of 2010. This is due to technical issues that need to be resolved and we anticipate that the agreement will be signed in due course," Spokesperson. Source: Dow Jones, 31-Mar-2010.