The Spanish carrier's attempts to find a partner have finally borne fruit. But not with a trade buyer and at a discount to the share price. It may struggle to get an auction going. Iberia s shares are pricey, and buyers like BA or Lufthansa may be less willing than thought.
Delta has done its best to keep US Airways on the tarmac. But its rival s sweetened $10.2bn offer has doomed Delta s goitalone strategy. After its overpriced acquisition of Skype hurt confidence in management and left investors puzzled, this looks like a smart deal. This may explain why Delta is cuddling up to its other rival in the bankruptcy court, Northwest.