Lufthansa maintains that Iberia is too expensive and refused to give a price

German airline Lufthansa maintains that "Iberia is too expensive" and declined to specify the price it would be willing to pay for the Spanish airline.

According to Lufthansa spokesman Michael Goentgens, speaking to EFE in Frankfurt, "our position regarding Iberia has not changed and we consider it to be too expensive."

Goentgens considered that "it must have been another mistake" when asked about the statements of Lufthansa's Director of Communications for Europe, Aage Dunhaupt, who said yesterday that Iberia is "interesting" but not at 3,60 euros per share, but, for example, at 3,00 euros per share, a figure "with which we could study the operation."

The Lufthansa spokesman in Frankfurt referred to the opinion of the company's finance director, Stephan Gemkow, who recently said in an interview with the newspaper "Börsen-Zeitung" that the stake held by British Airways is one of the reasons for the German company's caution.

"Iberia is significantly cheaper and the acquisition by financial investors appears to be faltering," according to Gemkow.

He added that "when Iberia's stock market value was at four euros, it was said that Lufthansa should do something. But it shouldn't."

The German executive emphasized that British Airways' stake in Iberia is a reason for Lufthansa's caution and that the British airline's role with its preferential rights in Iberia must be considered.

"Until British Airways explains what it plans to do with its stake in Iberia and the preferential rights, we are not considering a possible offer," Gemkow said.