IAG eyes Spanish budget airline

IAG, the parent company of British Airways and Iberia, is eyeing a bid for Vueling Airlines, a budget carrier based in Spain, the firm said in a statement yesterday. IAG’s board will meet today to consider a bid and its possible terms. A subsidiary of IAG already owns 45.85 per cent of Barcelona-based Vueling, which offers low costs flights across Europe. IAG chief executive Willie Walsh has been on the acquisition trail since BA and Iberia merged in 2010.