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British Airways & Iberia merger gets green light

17 July 2010

British Airways and Iberia this week won the European Union’s  regulatory approval to merge and to team up with American Airlines to  share more of their lucrative trans-Atlantic routes.

The companies  say the two deals will help them cut costs and survive a tough business  climate as they struggle with falling passenger numbers and industrial  unrest.

British Airways’ merger with Iberia will create Europe’s  third-largest airline with a market value of around $7.5 billion. They  will keep their existing brand identities and claim the deal will create  savings of euro400 million ($530 million) a year by the fifth year.

source: Associated Press

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