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5-May-2010 11:08 AM

British Airways required to "prove itself British" to remain in FTSE 100

British Airways is being required to prove itself sufficiently British to remain in the FTSE 100 after its proposed merger with Iberia (Times Online, 05-May-2010). The new holding company for British Airways and Iberia, to be named International Airlines, will be incorporated in Spain and will also have a listing in Madrid, which, according to FTSE regulations, makes the carrier a Spanish entity. However, the headquarters of International Airlines will be in the UK and the airline will retain British Airways as a brand. In addition, the merged airline will be 56% owned by BA shareholders.