BA makes news

BRITISH AIRWAYS could be in for an interesting week with the airline's AGM set for Tuesday, negotiations with its unions progressing with regard to future pay and conditions, and would-be partner Iberia changing its leadership.  On the investor front Moodys, the Stock Market monitor, cut its ratings by one notch to Ba3, the third-highest junk rating, from Ba2, citing weakening travel demand and higher fuel prices.  The union negotiations continue to run with strike action not ruled out.  On a more positive front would-be partner Iberia has changed Chairman, new boss Antonio Vazquez telling Spanish financial daily Cinco Dias that he wants to finalise a merger deal.  "I've come to Iberia with the objective of closing a deal with British Airways,” he said.  Iberia has confirmed that Vazquez would replace Fernando Conte, who was resigning for personal reasons.  Last December Mr Conte, speaking at the London Aviation Club, found himself embarrassed and caught up with a possible BA-Qantas merger, which ultimately failed. www.ba.com

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