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Lufthansa says Iberia's price too high

Lufthansa AG chief Wolfgang Mayrhuber played down Monday a possible move by the German airline to buy Iberia saying that the price for its Spanish rival was too high.

Despite Lufthansa AG having made clear that it was interested in a tie-up with the Spanish flag carrier, Iberia, Mayrhuber said at a European aviation congress in Frankfurt „that it is not possible for us to finance speculative prices.” Shares in Iberia have raced ahead in recent weeks as speculation has grown that the Spanish airline could emerge as a takeover target in consolidation in Europe's air industry. Iberia's shares rose another 1.3% in early trading Monday to €4.04 ($5.5). Iberia chief Fernando Conte Garcia, who also currently heads up the Association of European Airlines (AEA) is also due to attend the congress in Frankfurt. In his comments Monday, Mayrhuber went on to say, that Lufthansa was playing careful attention to possible changes in the aviation market. (