BA and Iberia. What happens next?

BRITISH AIRWAYS AND IBERIA have failed to meet their own self-imposed target date for the proposed merger.  The Iberia board was supposed sign it off last week, was making the right noises, but for whatever reason postponed any action.  BA has other matters on its mind but a spokesperson told Dow Jones the delay "is due to technical issues that need to be resolved and we anticipate that the agreement will be signed in due course."  Interestingly the spokesperson added that those issues are not related to BA's pension fund deficit.  The plan must be presented to the UK Pensions Regulator by June 30.  Shareholder approval is also required. www.ba.com www.iberia.com

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