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British Airways, Iberia To Merge To Create Europe's Third-Biggest Airline

JANE WARDELL   11/29/10 02:12 PM ET   AP

British Airways Iberia

DONE DEAL: Shareholders at meetings in London and Madrid approved the $8.9 billion merger between British Airways PLC and Iberia SA to create Europe's No. 3 airline.

HOLD THE CHAMPAGNE: The Unite union announced after the meetings that it would be balloting thousands of cabin crew workers about whether to take further action in a long-running dispute with the carrier's management over changes to pay and working conditions.

THE NEW AIRLINE: The merged Iberia and BA group will rank behind Germany's Lufthansa AG and Air-France KLM in revenue terms. The combined group will carry around 57 million passengers a year. The carriers fly to more than 250 destinations.

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Filed by Kate Auletta  |