Financial Times FT.com

BA and Iberia agree merger

By Pilita Clark in London and Mark Mulligan in Madrid

Published: November 12 2009 12:02 | Last updated: November 13 2009 09:02

British Airways and Iberia on Thursday night agreed the terms of a merger to create Europe’s third-largest airline by revenue, one of the biggest deals in the global aviation industry.

But the two airlines have agreed that Iberia will be able to terminate the accord if it is unhappy with BA’s handling of its swollen pension scheme, which has been one of the sticking points in the deal, first announced in July last year.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this