BA and Iberia do deal, guess who’s complaining
So British Airways last night sealed a £4bn merger deal with Spanish airline Iberia to create an aviation giant. The two loss-making companies said they had reached a preliminary agreement for a tie-up that will see BA shareholders take 55 per cent of the combined group, with Iberia holding the remaining 45 per cent. Whilst Willie Walsh has said the planned mergeris “great news for British Airways, our customers and our shareholders”. Surprise, surprise BA’s greatest critic Virgin Atlantic have …
So British Airways last night sealed a £4bn merger deal with Spanish airline Iberia to create an aviation giant. The two loss-making companies said they had reached a preliminary agreement for a tie-up that will see BA shareholders take 55 per cent of the combined group, with Iberia holding the remaining 45 per cent.
Whilst Willie Walsh has said the planned mergeris “great news for British Airways, our customers and our shareholders”. Surprise, surprise BA’s greatest critic Virgin Atlantic have criticised the move…
“It is impossible for any other airline to replicate their scale,” Virgin said in a statement. “Regulators in Europe and the U.S. need to be alert to BA’s growing dominance through proposals such as its monster monopoly with American Airlines, proposals which will not be in the consumer interest.” (Bloomberg)
And Ryanair boss Michael O’Leary commented, “It reminds me of two drunks leaning on each other.”
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