BA ends trading ahead of merger

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p><a href&equals;"http&colon;&sol;&sol;londonglossy&period;com&sol;wp-content&sol;uploads&sol;2011&sol;01&sol;ba-ends-trading-ahead-of-merger&period;jpg"><img class&equals;"alignnone size-full" title&equals;"BA has ended trading on the stock market ahead of merging with Iberia" src&equals;"http&colon;&sol;&sol;londonglossy&period;com&sol;wp-content&sol;uploads&sol;2011&sol;01&sol;min-ba-ends-trading-ahead-of-merger&period;jpg" alt&equals;"BA has ended trading on the stock market ahead of merging with Iberia"&sol;><&sol;a><&sol;p>&NewLine;<p>British Airways has ended 24 years of trading on the stock market ahead of its merger with Spanish carrier Iberia&period;<&sol;p>&NewLine;<p>The merger will complete on Friday and shares in the new holding company&comma; International Consolidated Airlines Group &lpar;IAG&rpar;&comma; will be listed on the stock market in London and Madrid on Monday morning&period;<&sol;p>&NewLine;<p>Shares closed 5p lower at 282&period;5p on Thursday&comma; its last day&comma; after easyJet warned soaring fuel costs were expected to double half-year losses and shook confidence in the industry&period;<&sol;p>&NewLine;<p>The completion of the merger comes more than two decades after British Airways joined the London stock market in a high-profile flotation that was 11 times oversubscribed&period;<&sol;p>&NewLine;<p>BA and Iberia will retain their brands as part of the initiative that is expected to save 400 million euro &lpar;£337&period;3 million&rpar; a year by its fifth year&period;<&sol;p>&NewLine;<p>The new airline group will have 419 aircraft flying to 205 destinations and will be Europe&&num;8217&semi;s second biggest airline by market value after Lufthansa&period;<&sol;p>&NewLine;<p>BA will also benefit through Iberia&&num;8217&semi;s strong presence in south America&comma; where BA operates only a handful of routes&period;<&sol;p>&NewLine;<p>The newly-formed group plans to aggressively expand through further acquisitions and has already drawn up a list of 12 companies it is interested in buying&period;<&sol;p>&NewLine;<p>Willie Walsh will step down as chief executive of BA to take up the same role at IAG in a move that will see his basic pay increase 12&percnt; from £735&comma;000 to £825&comma;000 a year&period;<&sol;p>&NewLine;<p>Current BA chairman Sir Martin Broughton will remain in the post after the tie-up&comma; but will also become deputy chairman of IAG and will earn 350&comma;000 euro &lpar;£295&comma;000&rpar; and an extra 175&comma;000 euro &lpar;£148&comma;000&rpar; next year to help with the demands of integrating the two firms&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed97c4464d9">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; 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