30 Nov 2010

Shareholders approve BA, Iberia merger

2:08 pm on 30 November 2010

British Airways and Spain's national carrier Iberia have obtained shareholder approval to push through their long-awaited merger.

The tie-up will create Europe's second-largest carrier after Air France-KLM, with a market value of around 5.3 billion euros.

The new company will be called International Airlines Group, but the separate BA and Iberia brands will continue to operate as normal, the BBC reports.

There could be more mergers on the cards, with BA saying it is interested in Lufthansa's BMI, and possibly TAP Portugal, Finnair and Ireland's Air Lingus.