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BA's Walsh wants at least 53 pct of BA/Iberia group

LONDON
Tue Jul 14, 2009 9:55am EDT

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In this file photo two Iberia's planes are parked on the tarmac of Madrid's Barajas airport December 17, 2008. British Airways Chief Executive Willie Walsh has reiterated that he is not prepared to accept a less than 53 percent split of a proposed combination of BA and Iberia. REUTERS/Susana Vera

LONDON (Reuters) - British Airways (BAY.L) Chief Executive Willie Walsh has reiterated that he is not prepared to accept a less than 53 percent split of a proposed combination of BA and Iberia (IBLA.MC).

Walsh also told reporters following the airline's annual general meeting that he was looking forward to holding merger discussions with the new Iberia management, following the resignation of ex-CEO Fernando Conte last week.

"I've not held formal discussions with them yet, but look forward to meeting with them," said Walsh.

BA said earlier on Tuesday that it is considering launching a convertible bond, not a rights issue to shore up its balance sheet.

(Reporting by John Bowker; Writing by Lorraine Turner; Editing by Matthew Scuffham)


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