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November 13, 2009

BA, Iberia reach merger MOU; BA to control 55%, Walsh to be CEO British Airways and Iberia yesterday agreed to a "binding" MOU to merge under a single holding company that will be 55% controlled by BA shareholders and led by BA CEO Willie Walsh, paving the way for establishment of a third major European airline company by the end of 2010 that would have annual revenue of about €15 billion ($22.5 billion), a fleet of 419 aircraft and a route network comprising 205 destinations. [MORE] Boeing completes modifications on first 787 Boeing yesterday said it completed the side-of-body reinforcements on the first 787 Wednesday, installing new fittings at 34 stringer locations within the joint where the wing meets the fuselage, and that first flight remains on track before January. [MORE] Vietnam Airlines reportedly signs MOU for four A380s Vietnam Airlines has signed an MOU for four A380s, VN and EADS officials told reporters in Hanoi. [MORE] Turkish soars to $253.8 million third-quarter profit Turkish Airlines reported a TRY374 million ($253.8 million) profit in the third quarter, a 7% drop from the year-ago period but a result that the airline said recovered some of the ground lost during the first half of 2009. [MORE] Other News TAM swings to third-quarter profit as domestic market rebounds High-speed rail forcing changes at Chinese airlines RwandAir airport accident kills one [MORE]

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