AA sells its Iberia stake

FA Mikey

Veteran
Aug 19, 2002
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miami
goldwatermiller08.com
British Airways said on Wednesday it had purchased American Airlines' stake in Spanish carrier Iberia for $24.29 million.

BA, Europe's third-largest airline, said in a statement it now owned about 10 percent of Iberia, up from 9 percent previously.

"The transaction is intended to preserve British Airways' two seats on the Iberia board," BA said in a statement. BA has played down the prospects of merging with Iberia or extending its joint venture with the Spanish carrier.