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British Airways to bid for Spain's Iberia

British Airways, Europe's second leading airline, has said it expects to make a bid for Spain's Iberia in December.

india Updated: Nov 04, 2007 15:58 IST

British Airways, Europe's second leading airline, has said it expects to make a bid for Spain's Iberia in December.

The consortium that the airways has formed with US private equity firm Texas Pacific Group and three Spanish partners could make the offer "within the next four to six weeks," the Spanish news agency EFE quoted anews report as saying.

British Airway's chief executive, Willie Walsh, has said he was prepared to make a push for Spain's flagship airline, Europe's fourth largest, next month (December).

The report quoted Walsh as saying he had become "more encouraged about the possibilities for deeper co-operation with Iberia."

The executive's remarks coincided with BA's announcement of record net income of 478 million pounds ($996 million, 690 million euros) for the six months ending Sep 30, up 52 percent from the same period in 2006.