International Airlines Group (ICAG.L)(ICAG.MC), formed by the merger of British Airways and Iberia, will look to buy out smaller European carriers before pursuing major deals further afield. IAG boss Willie Walsh said BA and Iberia had drawn up a shortlist of 12 targets to pursue after their $9 billion merger was completed late last year. [ID:LDE685112] [ID:TOE687051] The group wants to lead global consolidation of the airline industry by folding Asian and Latin American carriers into its network, but Europe is likely to be its first port of call.
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