The lasting talks of British Airways and Iberia resulted in $7bn merging on Nov. 13. The drastic decline in air travel demand hit the companies that already register a dramatic setback in profit.

The BA employees intend to protest as they fear layoffs will follow. It is expected that the merger will affect standards and competitiveness of the leading carrier.

“The two carriers will continue as separate brands and operating divisions under a holding company registered in Madrid but with its main offices and primary stock exchange listing in London,” Miami Herald e-source informs.

According to the source, 55% of shares will belong to BA in the holding company, whereas, the remaining 45% — to Spanish Iberia.

“BA is also hoping to have clearance 'any day now' from the US Department of Transport on a proposed joint venture with American Airlines, which would create the largest intercontinental airline grouping in the world,” Mail Online informs.