British Airways will be guaranteed the right to take over Iberia under a crucial agreement among the consortium bidding for the Spanish flag carrier, according to a media report. (6/4/2007)
A report by Sunday Telegraph, attributing a development to sources close to BA, shared that the company has agreed with its partners that it should have the option to take sole control of the rival airline in three to five years.
A source close to the airline reportedly said: “It is part of the deal they are working on with Texas Pacific and the other Spanish investors.”
British Airways is thought to be keen to postpone a potential takeover of Iberia while it restructures its own business and completes its move into Heathrow´s Terminal 5, the paper said.