Well, it's happening - that predicted wave of European airline consolidation as a response to record oil prices and economic slowdown took another step forward today with the news that British Airways and Iberia are holding merger talks.
The two carriers plan an all-share merger that would see them both retain their brands as a combined group.
This follows another recent merger announcement - again involving Spain - that Clickair and Vueling have agreed to join forces.
Who'll be next? Anyone care to hazard a guess?
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