TIMELINE-BA, Iberia agree merger deal, Iberia posts loss

Nov 13 (Reuters) - Spanish airline Iberia (IBLA.MC) posted a bigger than expected nine-month operating loss on Friday, just hours after agreeing a merger deal with British Airways (BAY.L).

The boards of BA and Iberia announced late Thursday their agreement to create the world's third-largest airline by revenue as they continue to battle the biggest industry downturn in decades.

Following are key dates in talks between BA and Iberia:

July 18, 1997 - Iberia confirms preliminary deal on a co-operation pact with BA.

Oct. 27, 1998 - BA agrees to take a stake in Iberia alongside American Airlines (AMR.N). Spanish state holding company SEPI, which then owned Iberia, said the deal was for BA to buy a stake of between 8.2 and 9.1 percent.

Dec. 10, 2003 - BA and Iberia win European Commission approval to operate proposed alliance in the European Union.

June 24, 2004 - Iberia announces plans to start joint accounts with BA on routes between Spain and Britain.

Sept. 8, 2004 - BA raises about 425 million pounds ($704.4 million) by selling its stake in Australia's Qantas Airways (QAN.AX), sparking speculation that it may increase its 9 percent stake in Iberia.

Nov. 15, 2006 - BA says buys American Airlines' stake in Iberia for 19 million euros ($28.5 million), raising its stake in the Spanish carrier to about 10 percent.

March 30, 2007 - BA appoints UBS to advise it on its 10 percent holding in Iberia, after news that private equity firm Texas Pacific Group (TPG) had made a 3.4 billion-euro bid approach for Iberia.

April 23, 2007 - BA rules out making an independent bid for Iberia, instead siding with a consortium led by TPG.

July 17, 2007 - BA's chief executive, Willie Walsh, shrugs off threat of rival bid from Air France-KLM (AIRF.PA) for Iberia, saying he is confident BA's bid with TPG is fair value.

Nov. 26, 2007 - The consortium led by TPG and BA says it has withdrawn its bid. Shares in Iberia fall more than 5 percent the next day.

Feb. 1, 2008 - Walsh says BA is in talks to strengthen ties with Iberia.

July 3, 2008 - BA confirms reports it is in talks with Iberia and American Airlines about a three-way transatlantic tie-up.

Aug. 14, 2008 - BA, American Airlines and Iberia announce they have agreed to a transatlantic tie-up intending to cooperate commercially on flights between the United States, Mexico and Canada and the EU, Norway and Switzerland.