British Airways, Iberia To Merge Into $7.5B Airline Giant

Law360, New York (November 13, 2009, 2:53 PM EST) -- British Airways PLC and Iberia Group have agreed to join forces to create what they say will be Europe's largest airline, valued at $7.46 billion.

British Airways shareholders will control 56 percent of the merged company, and its CEO Willie Walsh will take the helm of the new airline giant.

The airlines announced the merger on Thursday, saying that it would benefit customers and shareholders, better position the companies competitively and save the airlines' money.

Spain's Iberia and London-based British Airways predicted annual synergies of €400...
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