The birth of an Air Giant
Today the Spanish stock market says goodbye to Iberia after nearly ten years of history in the market. After its merger with British Airways Iberia bids farewell to Ibex to return in a few days as the International Airlines Group (IAG).
Shares in Iberia and British Airways will no longer quote at the close of the session this Thursday. The Spanish airline will be excluded from the Ibex 35 and both resume on Monday 24th trading on the Spanish and English stock, but under the name International Airlines Group, resulting from the merger.
Iberia, American Airlines and British Airways have launched a commercial alliance that includes all flights between Europe and North America. Through this alliance, the three companies will share revenue and coordinate to deliver a better product to their customers.
In particular, they have coordinated their networks and schedules to provide more and better flight options. Also, the companies will launch new routes they could not open by themselves. Furthermore, they will coordinate sales and customer service through their Internet portals call centers and airports.