British Airways has increased its shareholding in Iberia from nine to ten per cent.
The UK carrier has paid £13 million for around one per cent of the Spanish carrier held by American Airlines.
BA said: “The transaction is intended to preserve British Airways’ two seats on the Iberia board.”
The UK and US airlines – partners in the oneworld alliance – originally invested in Iberia seven years ago through a holding company. BA owns 90% of the holding company which in turn owns ten per cent of Iberia.
Report by Phil Davies
