BA, American reach pact with Iberia

Article Abstract:

British Airways has reached a tentative agreement with American Airlines to jointly purchase 10% in Iberia Airlines of Spain, in line with the airlines' plan for a broader commercial and code-sharing deal. Under the deal, British Airways will acquire an interest of 8.2% to 9.1% in the Spanish airlines, while the AMR Corp. subsidiary will purchase the remaining stake to bring the ownership to 10%. Meanwhile, Iberia, which is headed for privatization, will have the option to secure a minority interest in both British Airways and American.

Comment:

Reaches tentative agreement w/ British Airways to jointly purchase 10% in Iberia Airlines of Spain

United States, Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Scheduled Airlines, Scheduled Air Transportation, Airlines, British Airways PLC, American Airlines Inc., Iberia Lineas Aereas de Espana S.A., Article

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Spain lowers tariffs, speeds liberalization to fight inflation

Article Abstract:

Spain has reduced tariffs and implemented liberalization measures in an attempt to fight inflation. A higher-than-expected rise in consumer prices in March 1999 led to the approval of the liberalization and anti-inflation measures. The consumer price increase brought year-to-year inflation to 2.2%. Spain is expected to post a 3.5% growth in its economy for 1999 due to strong demand domestically.

Administration of General Economic Programs, International economic relations, Duty Suspensions & Reductions, International trade, Abstract

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Spain's Aznar picks a successor

Article Abstract:

Prime Minister Jose Maria Aznar of Spain has chosen Mariano Rajoy, his deputy prime minister, as his successor. Rajoy is expected to maintain Spain's close partnership with the U.S. in the battle against terrorism.

Appointments, resignations and dismissals, Powers and duties, Prime ministers, Aznar, Jose Maria, Rajoy, Mariano

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