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Home News British Airways ‘to stage takeover for Iberia’

British Airways ‘to stage takeover for Iberia’

Published on 20/10/2006

20 October 2006

MADRID — Rumours of a takeover bid by British Airways for Spain’s national airline Iberia caused shares to soar on Friday.

Shares in Iberia rose 10 cents to EUR 2.37.

A spokesman for the airline said it was unaware of any bid.

British Airways, Europe’s third-largest carrier, controls 10 percent of Iberia and the two airlines jointly manage routes between Spain and the U.K.

Iberia is a member of Oneworld, an alliance led by British Airways and American Airlines, the world’s biggest carrier.

Shares rocketed to a new record as Spain’s Ibex exchange marked its 175th anniversary on Friday.

[Copyright EFE with Expatica]

Subject: Spanish news