TIMELINE-BA, Iberia near merger deal

Nov 12 (Reuters) - The boards of British Airways (BAY.L) and Spain's Iberia (IBLA.MC) were holding separate meetings on Thursday to consider a potential merger to create the world's third largest airline by revenue, the two airlines said.

Following are key dates in talks between BA and Iberia:

July 18, 1997 - Iberia confirms preliminary deal on a co-operation pact with BA. Oct. 27, 1998 - BA agrees to take a stake in Iberia alongside American Airlines. Spanish company SEPI, which owns Iberia, says the deal is for BA to buy a stake of between 8.2 and 9.1 percent.

Dec. 10, 2003 - BA and Iberia win European Commission ok to operate a proposed alliance in the European Union.

June 24, 2004 - Iberia announces plans to start joint accounts with BA on routes between Spain and Britain.

Sept. 8, 2004 - BA raises about 425 million pounds ($704.4 million) by selling its stake in Australia's Qantas Airways (QAN.AX), sparking speculation that it may increase its 9 percent stake in Iberia.

Nov. 15, 2006 - BA says buys American Airlines' stake in Iberia for 19 million euros ($28.49 million), raising its stake in the Spanish carrier to about 10 percent.

March 30, 2007 - BA appoints UBS to advise it on its 10 percent holding in Iberia, after news private equity firm Texas Pacific Group (TPG) had made a 3.4 billion euro bid approach for Iberia.

April 23, 2007 - BA rules out making an independent bid for Iberia, instead siding with a consortium led by TPG.