Iberia News
International Airlines Group names board
Members of the board of directors of International Airlines Group - the holding company formed by the merger of British Airways and Iberia - have been appointed. While many of the new board come from the existing leadership of the partner airlines, John Snow, the former US Treasury secretary, is among the most notable new faces.
Iberia launches flights to El Salvador
From 2 October 2010, Iberia will start flying between San Salvador and Madrid, becoming the first European airline to connect both cities.
Iberia backs BA over pension deficit
Iberia has approved plans put forward by British Airways to alleviate its £3.7 billion pension deficit, bringing a proposed merger between the two one step closer to fruition. The deficit was the last major stumbling block in the process, with the deal now expected to close in November.
BA aims to create super-airline
British Airways and Iberia have drawn up a shopping list of up to 12 airlines which they hope to buy or merge with once their own tie-up has been completed. Airlines in their sights include Qantas, South African Airways, Finnair and AirAsia in a plan that would create the world’s largest airline.
EU approves AA-BA-Iberia tie-up
The European Commission has cleared for take-off the three-way transatlantic tie-up between American Airlines, British Airways and Iberia. The airlines are expected to start co-ordinating schedules and pricing from the autumn, subject to final approval from the US Department of Transport.
Iberia and BA formalise merger structure
British Airways and Iberia have formally agreed upon their corporate structure partnership, in the latest sign that the merger of the two flag carriers is on schedule for completion by this December.
BA / Iberia - third party comment
Reacting to news of the merger between British Airways (BA) and Iberia, Bob Atkinson, travel expert at travelsupermarket.com, said:..
BA and Iberia seal £5bn merger
British Airways and Iberia have sealed their long-awaited merger, which will see the two flag carriers integrate operations by the end of the year. They are expected to save up to £350 million annually from the £5bn deal, and will trade as a holding company called International Airlines Group.
BA and Iberia miss merger deadline
British Airways’ merger with Iberia will not take place in the first quarter of this year as planned because of “technical issues”. However BA has quashed speculation that this was due to the disruption caused by the cabin crew strikes.
Iberia to sidestep unions with new low-cost airline
Iberia’s cabin crew are threatening strike action over plans to launch a new carrier this year that would pay crew lower wages. The new airline would employ some 350 staff and operate 14 aircraft, and is viewed as an attempt by the Spanish flag carrier to sidestep union resistance to cost cuts.
Profits tumble at Iberia as domestic demand falters
Spanish flag-carrier Iberia has reported a full-year loss for the first time in 13-years. The airline has been hit by volatile oil prices, falling demand for premium travel and a recession in domestic markets.
US authorities provisionally approve oneworld transatlantic tie-up
The American Department of Transport (DOT) has issued a tentative decision approving antitrust immunity for American Airlines and its oneworld partners, allowing the formation a global alliance. If granted final approval, the decision will allow the oneworld Alliance to join Star and SkyTeam – both of which have operated with antitrust immunity in the USA for some time – in the North American market.