British Airways and Iberia merge as IAG

Following British Airways merger with Iberia, International Consolidated Airlines Group (IAG) began trading today, with its name on the London Stock Exchange putting an end to BA as a stock market name after 24 years.The decision for a merger is with an aim at cutting costs, and securing access to each other's routes.

Savings are expected to reach £340m a year by IAG's fifth year.

The pair fly to more than 200 destinations on more than 400 aircraft and BA stands to benefit from Iberia's access to South American routes.