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.
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.
The proposed transatlantic venture between British Airways, American Airlines and Iberia has moved closer to securing regulatory approval from the European Commission.
Amadeus, a global leader in technology and distribution solutions for the travel and tourism industry and Iberia, the leading airline in Spain and the European-Latin American market, have agreed to extend their full content agreement until 2014.
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.
Iberia is to replace the current lie-flat seat beds in its longhaul Business Plus cabins with upgraded versions that recline to a fully flat horizontal position.
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.
Unions representing Spanish airline Iberia’s cabin crew have revealed they will stage eight more days of strikes unless a pay agreement is reached.
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 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.
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.