International Consolidated Ai

RNS Number : 3778T

British Airways PLC

27 September 2010

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA 

INTERNATIONAL CONSOLIDATED AIRLINES GROUP BOARD

The full board of International Consolidated Airlines Group (IAG), which will be the holding company formed by the British Airways and Iberia merger, has been announced today.

The 14 board members are:

·      Antonio Vázquez Romero, group chairman

·      Martin Broughton, deputy group chairman

·      Willie Walsh, chief executive elect, International Airlines Group

·      Rafael Sánchez-Lozano Turmo, chief executive elect, Iberia

·      Keith Williams, chief executive elect, British Airways

·      César Alierta Izuel

·      Patrick Cescau

·      José Manuel Fernández Norniella

·      Baroness Denise Kingsmill

·      James Lawrence

·      José Pedro Pérez Llorca

·      Kieran Poynter

·      Rodrigo de Rato y Figaredo

·      John Snow

BOARD SUB-COMMITTEES

Audit and Compliance Committee

·      Kieran Poynter               Chairman

·      José Pedro Pérez Llorca

·      James Lawrence

·      Patrick Cescau

Nominations Committee

·      John Snow                    Chairman

·      César Alierta Izuel

·      José Manuel Fernández Norniella

·      Baroness Denise Kingsmill

Remuneration Committee

·      César Alierta Izuel          Chairman

·      John Snow

·      José Manuel Fernández Norniella

·      Baroness Denise Kingsmill

The merger is subject to approval by both airlines' shareholders. Meetings to seek

shareholder approval are planned for later this year.

ends

September 27, 2010                                                                               091/LG/2010

NOTES TO EDITORS

Biographies and photographs of the board members are available by contacting [e-mail] or by calling 020 8738 5100

This announcement is for information purposes only and does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities or the solicitation of any vote or approval with respect to the merger of British Airways Plc ("BA") and Iberia Líneas Aéreas de España, S.A. ("Iberia") into International Consolidated Airlines Group, S.A. (the "Company") (the "Transaction"), nor shall there be any purchase, sale or exchange of securities or such solicitation in any jurisdiction in which such offer, solicitation or sale or exchange would be unlawful prior to the registration or qualification under the laws of such jurisdiction.

This announcement is not to be distributed (directly or indirectly) in or to Canada, Australia, Japan, New Zealand or the Republic of South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.  This announcement is not an offer of securities for sale in or into Canada, Australia, Japan, New Zealand or the Republic of South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. 

No money, securities or other consideration is being solicited and, if sent in response to the information contained herein, will not be accepted.

The distribution of this document may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, the Company, BA and Iberia disclaim any responsibility or liability for the violation of such restrictions by any person.

UBS is acting as financial adviser to BA and no one else in connection with the Transaction and will not be responsible to anyone other than British Airways for providing the protections afforded to the clients of UBS nor for providing advice in relation to the Transaction or any other matter referred to herein.

Morgan Stanley are acting as financial advisers to Iberia and no one else in connection with the Transaction and will not be responsible to anyone other than Iberia for providing the protections afforded to the clients of Morgan Stanley nor for providing advice in relation to the Transaction or any other matter referred to herein.

This announcement may contain forward-looking information and statements about BA and Iberia and the Company's businesses after completion of the proposed Transaction. Forward-looking statements are statements that are not historical facts nor guarantees of future performance, and have not been reviewed by BA or Iberia's auditors. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements are generally identified by the words "expects," "anticipates," "believes," "intends," "estimates" and similar expressions. Although the managements of BA and Iberia believe that the expectations reflected in such forward-looking statements are reasonable, investors and holders of BA and Iberia shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of BA and Iberia, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the public documents filed by BA with the UKLA and by Iberia with the Comisión Nacional del Mercado de Valores, including BA's 2009/2010 Annual Report and Accounts and Iberia's 2009 Annual Report and Accounts. Investors are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. Except as required by applicable law, neither BA nor Iberia undertake any obligation to update any forward-looking information or statements.

If and when filed, investors may obtain free copies of the public documents sent by BA and Iberia with their respective securities regulators and will receive information at an appropriate time on how to obtain these Transaction related documents for free from the parties involved or a duly appointed agent.

ADDITIONAL NOTICE TO IBERIA SHAREHOLDERS IN THE UNITED STATES OF AMERICA

This business combination involves the securities of a foreign company. The Transaction is subject to disclosure requirements of a foreign country that are different from those of the United States. Financial statements included in the document, if any, have been prepared in accordance with foreign accounting standards that may not be comparable to the financial statements of United States companies.

It may be difficult for you to enforce your rights and any claim you may have arising under the federal securities laws, since the issuer is located in a foreign country, and some or all of its officers and directors may be residents of a foreign country. You may not be able to sue a foreign company or its officers or directors in a foreign court for violations of the U.S. securities laws. It may be difficult to compel a foreign company and its affiliates to subject themselves to a U.S. court's judgment.

You should be aware that the issuer may purchase securities otherwise than under the exchange offer, such as in open market or privately negotiated purchases.

 

END

 

 

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