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MADRID : The boards of British Airways and Iberia will approve a merger of the two airlines on March 25, the Spanish newspaper Expansion reported on Thursday, citing sources close to the companies.
Contacted by AFP, Iberia said a meeting of its board of directors is scheduled for March 25, which is next Thursday, but it did not reveal the agenda.
Last month Iberia chairman Antonio Vazquez said that there would be a deal within weeks and that the merger would be finalised before the end of the year.
The two airlines signed a preliminary deal last November after more than a year of negotiations, but Iberia said at the time it would back out of the agreement if BA's giant pension deficit problem was not resolved.
A tie-up between Iberia and BA would create Europe's second-biggest airline by market capitalisation after Lufthansa, combining Iberia's strong presence in Latin America with BA's position in North America, Asia and Africa.
- AFP/vm
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