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EU approves BA-Iberia merger

By the CNN Wire Staff

London, England (CNN) -- The European Union approved British Airways' merger with Spanish airline Iberia on Wednesday, clearing an important hurdle for the two companies.

The airlines are hoping for a final decision soon from the U.S. Department of Transportation on whether they will receive transatlantic anti-trust immunity, British Airways Chief Executive Willie Walsh said.

"We await the DOT's final decision, but welcome this important and vital step forward," Walsh said.