The airline has not made a final decision on the future of its 10 percent Iberia stake and may sell it. Buyout firm Texas Pacific Group said in March it might make a bid for Iberia, which has a market value of e3.74 billion (R35.8 billion).

 

"They don't want to lose their joint venture agreement with Iberia or, worse, have it go to a competitor," said Davy Stockbrokers analyst Stephen Furlong.

A bid would not involve additional capital investment by the airline, BA said.

"BA wants to protect what it's got and if it can do this without extra cash, that is quite an attractive proposition," said Oriel Securities analyst Gerald Khoo. - Bloomberg