The European Commission has agreed to a proposed merger between British Airways (BA) and Iberia as they thought the move would not harm competition. The UK-based and Spain-based airlines are expected to complete the deal by the end of the year, which will create one of the world's largest airlines under the International Airlines Group holding company. Under the terms of the proposed merger, both carriers will retain their individual brand identities and will see more than 400 aircraft flying to around 200 destinations around the world.