As investors agree the merger between British Airways and Iberia, analysts are stating that British Airways shares have “material upside” primarily because, although supportive, investors are underestimating the benefits of the merger. One says that none of the cost and revenue synergies generated by merging the two airlines have yet been reflected in valuations so in the medium term they say there is still material upside in the shares. Similarly, the alliance with American Airlines will prove to be much more valuable than valuations. But as a shareholder, such statement will only serve to help boost the share price. It
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