Editing Iberia (airline) (section)

===Ownership===
[[File:Iberia logo.svg|thumb|Former Iberia logo; used from 1977 to 2013]]
[[File:Salida a Bolsa de Iberia (2001).jpg|thumb|Announcement of the listing of Iberia in the [[Bolsa de Madrid|Madrid Stock Exchange]], 2001]]
On 3 April 2001, Iberia was privatised and included in the [[IBEX 35]] stock index of the [[Bolsa de Madrid|Madrid stock exchange]]. The core shareholders were: [[Caja Madrid]]– 23.45%, British Airways 13.2%, [[SEPI]]– 5.20%, [[El Corte Inglés]]– 2.90%.<ref>{{cite web |url=http://grupo.iberia.es/portal/site/grupoiberia/menuitem.5dcd178a7f0a73be19736c10d21061ca |title=Inicio – Iberia |publisher=Grupo.iberia.es |access-date=3 April 2013 |url-status=dead |archive-url=https://web.archive.org/web/20090225084512/http://grupo.iberia.es/portal/site/grupoiberia/menuitem.5dcd178a7f0a73be19736c10d21061ca |archive-date=25 February 2009}}</ref> British Airways raised its stake in Iberia by purchasing [[American Airlines]]' remaining shares, reportedly paying £13m for the small shareholding. This increased BA's total stake in Iberia to around 10% and preserved its two seats on the Iberia board.<ref>''[[Airliner World]]'' January 2007</ref>

In July 2008, British Airways and Iberia announced plans to merge, wherein each airline would retain its original brand.<ref name="baiberiamerger">{{cite news |url=https://www.nytimes.com/2008/07/30/business/worldbusiness/30air.html |title=British Airways in Merger Talks|last=Brothers|first=Caroline|work=The New York Times|date=30 July 2008|access-date=30 July 2008}}</ref> The agreement was confirmed in April 2010,<ref name = BAIM>{{cite news| url=http://news.bbc.co.uk/2/hi/business/8608667.stm |work=BBC News | title=British Airways and Iberia sign merger agreement| date=8 April 2010 | access-date=23 October 2011}}</ref> and in July, the [[European Commission]] and [[United States Department of Transportation]] permitted the merger and the two airlines began to co-ordinate [[transatlantic flight|transatlantic]] routes with American Airlines.<ref name = ECABAIB>{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/epic/bay/7890648/EC-approves-BA-alliance-with-American-Airlines-and-Iberia.html |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/finance/newsbysector/epic/bay/7890648/EC-approves-BA-alliance-with-American-Airlines-and-Iberia.html |archive-date=12 January 2022 |url-access=subscription |url-status=live|work=The Telegraph|title=EC approves BA alliance with American Airlines and Iberia|date=15 July 2010|access-date=15 July 2010 | location=London | first=Emma | last=Rowley}}{{cbignore}}</ref><ref name = DAOAIA>{{cite news |title=British Airways given approval for tie up with American Airlines and Iberia |url=https://www.telegraph.co.uk/finance/newsbysector/transport/7233020/British-Airways-given-approval-for-tie-up-with-American-Airlines-and-Iberia.html |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/finance/newsbysector/transport/7233020/British-Airways-given-approval-for-tie-up-with-American-Airlines-and-Iberia.html |archive-date=12 January 2022 |url-access=subscription |url-status=live |author=Kamal Ahmed |newspaper=The Telegraph |date=14 February 2010
|access-date=15 July 2013}}{{cbignore}}</ref> On 6 October 2010, the alliance between British Airways, American Airlines and Iberia formally began operations. At the time it was estimated the alliance would generate an estimated £230&nbsp;million in annual cost-saving for BA, in addition to the £330&nbsp;million which would be saved by the merger with Iberia.<ref>{{cite news|url=https://www.independent.co.uk/travel/news-and-advice/airlines-unveil-new-deal-for-transatlantic-flyers-2101207.html|work=The Independent |location=London|title=Airlines unveil 'new deal for transatlantic flyers'|date=8 October 2010|access-date=8 October 2010}}</ref> The merger was finalised on 21 January 2011, resulting in the International Airlines Group (IAG), the world's third-largest airline in terms of annual revenue and the second-largest airline group in Europe.<ref name=BAIM/><ref>{{cite news
|url=http://www.nation.co.ke/business/news/Iberia%20expects%20to%20complete%20merger%20with%20BA%20in%20January/-/1006/1041268/-/x2a6bh/-/index.html|work=Daily Nation|title=Iberia expects to complete merger with British Airways in January|access-date=18 November 2010|date=27 October 2010}}</ref>

Prior to merging, British Airways owned a 13.5% stake in Iberia, and thus received ownership of 55% of the combined International Airlines Group; Iberia's other shareholders received the remaining 45%.<ref name = TEP>{{cite news|url=http://news.bbc.co.uk/2/hi/8356780.stm|title=BA and Iberia agree with merger deal|work=BBC News |date=12 November 2009|access-date=23 October 2011}}</ref>

The merger has been controversial. British Airways operates two funded principal-defined benefit pension schemes in the UK. British Airways admits that one of the most serious financial risks it suffers is the challenging pension schemes' combined deficit. The last actuarial valuation was £3.7&nbsp;billion, a value even greater than IAG's capitalisation.{{citation needed|date=September 2017}} In addition and according to the "Pensions Act" for the year 2004, should it be necessary, the United Kingdom's Pension Regulator could force Iberia or IAG to give additional financial support to British Airways' retirement pension schemes. In its "Annual Report and Accounts Year ended 31 December 2011" BA declared that "negative movements in pension asset values and financial returns from these assets may increase the size of the pension deficit".<ref>{{cite web|url=https://www.britishairways.com/cms/global/microsites/ba_reports0910/our_business/risks.html|title=British Airways 2009/10 Annual Report and Accounts|website=www.britishairways.com|access-date=2 September 2017}}</ref>

{{As of|2013|12}}, the airline had over 18,000 employees.<ref>{{cite news|title= Iberia pilots and ground staff agree to job cuts|first= Victoria|last= Moores|work= [[Air Transport World]]|date= 24 July 2014|url= http://atwonline.com/labor/iberia-pilots-and-ground-staff-agree-job-cuts|archive-url= https://web.archive.org/web/20140724181155/http://atwonline.com/labor/iberia-pilots-and-ground-staff-agree-job-cuts|archive-date= 24 July 2014}}</ref>

Due to [[Brexit]], Iberia has been forced to prove that it is still a Spanish airline, despite being merged with [[British Airways]]. The consequence for not doing so is their potential inability to fly within the [[European Union]].<ref>{{Cite web|url=https://www.forbes.com/sites/anagarciavaldivia/2019/01/08/brexits-impact-on-aviation-iberia-must-prove-its-spanish-nationality-to-continue-flying-in-the-eu/|title=Brexit's Impact On Aviation: Iberia Must Prove Its Spanish Nationality To Continue Flying In The EU|first=Ana Garcia|last=Valdivia|website=Forbes}}</ref>