After over a year of talks, British Airways (BAIRY.PK +5%) and Iberia say they have come to...

|By:, SA News Editor

After over a year of talks, British Airways (BAIRY.PK +5%) and Iberia say they have come to agreement on a "merger of equals." BA's stock will make up 55% of the new airline (set to be the world's third-biggest by revenue), and BA CEO Willie Walsh will hold that title going forward, while Iberia Chairman Antonio Vazquez will be chairman.