THEY NOW JOINED WITH EACH OTHER
British Airways buys American Airlines' Iberia stake
Tags: American Airlines, British Airways Plc.
AIRLINE INDUSTRY INFORMATION-(C)1997-2006 M2 COMMUNICATIONS LTD
American Airlines' remaining stake in Spanish airline Iberia, which amounted to about 1% of Iberia's issued share capital, has been purchased by British Airways for around EUR19m.
The purchase takes British Airways' total shareholding in Iberia from some 9% to 10%. British Airways said it completed the transaction in order to preserve its two seats on the Iberia board.
The original investment in Iberia was made by British Airways and American Airlines in 1999, through a holding company. British Airways owns 90% of BA & AA Holdings Limited, which now owns about 10% of Iberia.
