BA and Iberia: Marriage of convenience
The merger deal between British Airways and Iberia, which was finally signed last night after 18 months of talks, represents a personal triumph for BA's chief executive Willie Walsh after he was confirmed as group chief executive of the combined company. He can also claim victory by securing London as the holding company's new headquarters, even if the group will be incorporated in Madrid.
It had been thought that Mr Walsh's personal triumph would come at the cost of the BA-Iberia being run from Spain.
Antonio Vazquez, Iberia's chairman and chief executive, will be the chairman of the combined company after winning credit for having got the deal back on track after his appointment in July. BA's chairman Martin Broughton will be deputy chairman of the merged airline.