BA severs ties with UBS

BRITISH Airways has severed ties with UBS, the corporate broker the airline has used for 24 years.

The carrier has chosen Deutsche Bank and Barclays Capital, following its merger with Spanish airline Iberia.

The newly formed International Consolidated Airlines Group (IAG), which listed in London and Madrid last month, decided to end its relationship with UBS following a review of its brokers.

The loss of the prestigious contract will be a hit to UBS, after having been British Airways’ broker since its privatisation in 1987.

An IAG spokesperson said: “The new company decided to review our brokers and the result of that review, and the pitch, was that Barclays and Deutsche Bank won the business.”