Airlines

British Airways (BA) has confirmed that it will join a consortium that may bid for Spain’s Iberia.

BA says in a brief stock exchange announcement: “British Airways has joined with TPG Capital, Vista Capital, Inversiones Ibersuizas and Quercus Equity to investigate a possible consortium offer for Iberia. There is no guarantee that a formal bid will be made.”

It adds: “The airline has previously ruled out further capital investment as part of any consortium offer and will not make an independent bid for the airline.”

BA, which already holds a 10% stake in Iberia, revealed last month that it had approached private equity firms with a view to forming a consortium to bid for its Oneworld alliance partner.