British Airways expecting Iberia merger complete by year-end
British Airways CEO, Willie Walsh, expects the carrier to be involved in more merger agreements once it completes its merger with Iberia, but does not have “anything specific in mind at the moment” (express.co.uk, 22-May-2010). BA expects the merger to be completed by Dec-2010 and expects to generate EUR400 million p/a in cost savings from the merger (Reuters, 21-May-2010). It also hopes its anti-trust immunity agreement with American Airlines will be approved by northern summer 2010.
British Airways: “This is not the end, it is the beginning. We recognise that what we are doing today is forming the business for future consolidation. That is why it is so important that we get it right,” Willie Walsh, CEO. Source: express.co.uk, 22-May-2010.