Following privatization, British Airways entered a period of rapid and unprecedented growth, leading to the use of the slogan "The World's Favorite Airline", and dominated its domestic rivals during the early 1990s. Faced with increased competition and higher costs in the mid-1990s, CEO Bob Ailing led a restructuring effort, leading to trade union clashes; the carrier also invested in regional European airlines, courted international airline partnerships, and attempted a controversial ethnic livery rebranding campaign. In the early-2000s, CEO Rod Eddington implemented further cost cuts, the retirement of Concorde, and the removal of ethnic liveries. Under Willie Walsh, who became CEO in 2005, British Airways faced a price-fixing scandal, moved its primary hub to Heathrow Terminal 5, and experienced threats of industrial action, leading to a strike in March 2010. On 8 April 2010, it was confirmed that British Airways and Iberia Airlines had agreed to a merger, forming the International Airlines Group, although BA would continue to operate under its current brand.
The combined airline will become the world's third-largest carrier (after Delta Air Lines and American Airlines) in terms of annual revenue.