British Airways believes oil prices will accelerate merger activity in 2011
British Airways CEO Willie Walsh forecast further airline merger and acquisition activity in 2011, stating the year will be one of “significant consolidation” due to the increasing price of oil (The Transnational, 07-Jan-2011). British Airways plans to complete its merger with Iberia by 24-Jan-2011.
British Airways: “2010 was a busy year for mergers but 2011 will be busier. Our industry needs to consolidate. It is part of the solution to its structural financial problems, although it is not the only answer." Willie Walsh, CEO. Source: The Transnational, 07-Jan-2011.