The airlines investors will gather in Westminster to vote to the proposed 5.7bn allshare merger with Spains Iberia. A reciprocal meeting occurs in Madrid.
Assuming many of BA investors holding 75pc with the shares by value approve the sale and it would be a shock should they do not the pair will form International Consolidated Airlines Group. BA shareholders will own 56pc on the company, Iberias the rest.
The Madridregistered company, that will be headquartered in London and run by BA leader Willie Walsh, will have a combined number of 406 aircraft, carrying 57.5m passengers a year. Based on current revenues, annual sales are anticipated to be around 11.7bn. The holding company will sit above both the operating businesses, that could retain their brands, national identities and flying rights.
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From January 24, the holding company will start trading in London as International Airlines Group a name which is deliberately bland because Mr Walshs goal will be to expand it by acquiring other airlines.
Bigger always maintained that this IAG structure is "scaleable" though surprised observers in September when he explained he had drawn up a summary of 12 unnamed targets. "The ambition is very clear that IAG will look to consolidate further," he said.
BA, which was privatised in 1987, held abortive merger talks with Qantas this past year. A longterm goal is always to cement the transatlantic tieup with American Airlines via a fullscale merger should US ownership rules ever permit that.
Creating this type of global champion would surely gain the approval from the now Baronness Thatcher.