BA boss eyes fresh round of merger deals

first_img Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fan BRITISH AIRWAYS chief executive Willie Walsh has drawn up a hit list of a dozen companies he wants to buy after he has sealed his merger with Iberia and American Airlines in a bid to become the biggest airline group in the world.Walsh said: “The mergers with Iberia and American were never meant to be an end in themselves. I have sat down with Iberia and we initially looked at 40 like-minded airlines who believe that the future of the industry lies in consolidation. We have since narrowed this down to 12. Becoming the biggest airline group in the world is not a bad ambition to have.”Currently BA is dwarfed by Germany’s Lufthansa and Anglo-Dutch outfit Air France-KLM, and is threatened by fast-growing Middle Eastern rivals like Emirates and Etihad.The BA chief, who was speaking in Mumbai after having launched an improved 777-300ER long-haul service to the Indian capital, would not be drawn on who was on the list. But sources close to the airline say possible targets include Qantas, Cathay Pacific, Air Berlin and Gulf Air. Walsh, 48, said: “This is a long-term plan and some of this won’t be completed until after I retire. But the larger group will be set up with the intention of pursuing consolidation.”Walsh will start looking at cutting his next airline deal in 18 months to two years time and his first job is to pursue €400m (£333.9m) a year worth of cost savings in the larger group within the next five years.In the summer BA, American Airlines and Iberia received approval from the EC and the US Department of Transportation to merge their operations.The merger is expected to happen by the end of the year, when BA and Iberia – who are pursuing a full-blown merger – will form International Airlines Group (IAG) which will sit above both airlines.Walsh will move from his current post to become chief executive of IAG while Antonio Vasquez will move from chairman of Iberia to become chairman of IAG. BA finance director Keith Williams will become the new chief executive of BA. Tags: NULL KCS-content center_img Share More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com BA boss eyes fresh round of merger deals whatsapp Sunday 5 September 2010 10:26 pmlast_img

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