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| Version 0 | Version 1 |
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| BA and Iberia hold merger talks | BA and Iberia hold merger talks |
| (20 minutes later) | |
| British Airways and Spain's Iberia are holding talks on a possible merger, the two airlines have said. | British Airways and Spain's Iberia are holding talks on a possible merger, the two airlines have said. |
| The firms said the British Airways and Iberia brands would be retained as part of a combined group under the plans. | |
| BA boss Willie Walsh said the proposed merger would help the airlines in the current economic environment. | BA boss Willie Walsh said the proposed merger would help the airlines in the current economic environment. |
| The companies said it would take several months to reach an agreement on the terms of the merger. The news boosted BA's share price by 8%. | The companies said it would take several months to reach an agreement on the terms of the merger. The news boosted BA's share price by 8%. |
| Mr Walsh said the merger was an attractive proposition for BA, which, like other airlines, is struggling with sky-high fuel costs | |
| "The aviation landscape is changing and airline consolidation is long overdue," he said. | |
| The two airlines have a 10-year history of co-operation and are both members of the Oneworld alliance. | |
| BA acquired an 9% stake in Iberia in 1999 and recently increased its holding to 13.2%. | |
| Iberia recently bought a 2.99% stake in BA. |