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Iberia Seeking Expansion Through Acquisition

Iberia Lineas Aereas de Espana, Spain's largest airline, has said that...

Iberia Lineas Aereas de Espana, Spain's largest airline, has said that it is considering a takeover of a smaller rival to expand beyond Spain.

Iberia plans to study acquisitions over the next six months, said Enrique Dupuy, Chief Financial Officer, at a press conference.

?It should be a company we can digest,? Dupuy said. Iberia is also considering selling companies outside its main passenger airline business, such as cargo and maintenance. Iberia may eventually unload its stake in Amadeus Global Travel Distribution, a travel booking company, he said.

Iberia is one of the few European airlines that made a profit in 2001, as demand on Latin American routes offset a decline in travel on other routes after the September 11th attacks. Profit was also boosted by a credit for taxes Iberia paid early.

Author: Neftegaz.ru