Brussels approves the merger between British Airways and Iberia
Three months after British Airways and its Spanish partner, Iberia announced their marriage, the Commission gave its green light to the merger that will create the world's third largest airline. In a statement issued Wednesday, Brussels ruled that the merger would not impede competition in Europe. "The business of British Airways and Iberia overlap in the field of air transport of passengers and cargo and ground handling ASSISTRA and MRO," the statement said. He added: "Passengers will therefore have more choice of appropriate flight on these routes after this merger."
The merger between Iberia and British Airways which will see shareholders of British Airways take 55% of the new group should be completed by the end of the year.It is subject to approval by shareholders of both companies, who need to vote at general meetings scheduled for November.
The two companies will consolidate into a new holding company, which will be named Consolidated Airlines International Group SA, or International Airlines Group for short, and will be listed in London and Madrid.However, the two companies continue to operate independently and continue to operate under their existing brands.
Yes also for the alliance Iberia / BA / American Airlines
One remaining obstacles to the merger had been raised when Brritish Airways announced it had reached an agreement to cover the deficit of 3.7 billion pounds (4.4 billion euros) of its pension scheme.
The European Commission also approved the alliance as British Airways, Iberia and American Airlines want to build on the model of what makes Air France-KLM and Delta, recently associated with Alitalia."Today's decision will allow airlines to set up the transatlantic alliance to which they aspired for a long while allowing some 2.5 million passengers between London and New York as well as other relevant routes of continue to enjoy a range of frequencies and competitive prices, "commented Commissioner Joaquin Almunia competition.