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BA’s mushrooming pension deficit threatens Iberia merger

BA’s mushrooming pension deficit threatens Iberia merger

15 December 2009 Airline News

The odds of a merger between British Airways and Iberia have lengthened following news that the pension deficit of the British flag carrier has grown by £1.6bn over the past year. BA may now no longer be able to meet long-term payments to its entire workforce, which has been the main sticking point in the proposed tie-up with Iberia.

BA and Iberia agree merger deal

13 November 2009 Press Release Airline News

British Airways and Spain’s Iberia have announced that they have reached a preliminary agreement for a merger following discussions at separate board meetings throughout yesterday.

Iberia plans new airline for short, medium haul flights

Iberia plans new airline for short, medium haul flights

23 October 2009

The Spanish national carrier Iberia has unveiled plans to create a new airline to handle its short- and medium- haul routes in an effort to reverse declining revenues, weak demand and mounting losses in the current economic crisis.

GOL and Iberia sign code-share agreement

GOL and Iberia sign code-share agreement

20 October 2009 Press Release Airline News

GOL Linhas Aereas Inteligentes S.A. (Bovespa: GOLL4 and NYSE: GOL), the largest low-cost and low-fare airline in Latin America, and Iberia, Spain’s largest air transport group, announced today that the companies have signed a code-share agreement.

EU questions BA-AA-Iberia venture

EU questions BA-AA-Iberia venture

2 October 2009 Airline News

The European Commission has voiced its concerns over the proposed transatlantic venture between British Airways, American Airlines and Iberia. These include the disproportionate hold the three airlines would have on key Europe-to-US routes from Heathrow to Miami and Dallas.

BA/Iberia tie-up moves a step closer

14 September 2009 Airline News

The rallying stock market could prove the catalyst for a long-awaited tie up between British Airways and Iberia. The surge in stocks over the past few weeks could help ease the Spanish flag carrier’s fears about BA’s £2.1 billion pension deficit and lead to the long-awaited link-up. The Spanish have long been concerned about the massive deficit, which could soar to nearer £3bn when the results of a revaluation of the fund are revealed next month.

Iberia to cut capacity to stem growing losses

28 August 2009 Airline News

Iberia has vowed to accelerate its cost-cutting programme after sliding further into the red over the second quarter. Jobs are set to go, aircraft withdrawn from its fleet and wages frozen as Spain’s largest carrier also warned that it would be heading for its first annual loss in a decade.