THE COMPANY formed following the merger of British Airways with Spanish carrier Iberia will today join a small handful of foreign incorporated firms on the London Stock Exchange as a FTSE100 firm.
International Consolidated Airlines Group (IAG) will fly into the FTSE100 as one of the UK’s top companies, despite its official status as a Spanish firm.
Overseas companies traditionally achieve a top flight London listing by incorporating in accordance with UK company law and by officially registering as a business with Companies House.
IAG however is incorporated under Spanish law and pays taxes in Spain, yet is headquartered in London and will primarily list on the London Stock Exchange.
BA and Iberia will retain their brands as part of the $8bn (£4.9bn) merger deal, and will have a combined 419 aircraft flying to 205 destinations.