BA owner IAG expects £1bn profit due to strong summer October 13, 2022 British Airways’ owner IAG expects its pre-exceptional operating profit for the third quarter to be around €1.2bn (£1bn) after better than expected trading. The airline consortium said strong passenger revenue drove profits while forward bookings remained at expected levels, showing no signs of slowing down. Shares went up as high as 10 per cent following [...]
IAG boss predicts all group airlines will return to profit this year September 21, 2022 All of IAG’s subsidiary airlines will post profit this year, according to the group’s chief executive Luis Gallego. “We foresee all the airlines of the group to make profits again this year,” the chief executive told journalists on Wednesday while refraining from elaborating on specific carriers. IAG owns British Airways (BA), Iberia and Aer Lingus, [...]
Back in black: Pandemic recovery of British Airways’ owner takes off in earnest as IAG pulls in £245m profit July 29, 2022 British Airways’ owner International Consolidated Airlines Group (IAG) has returned to profit for the first time since the start of the coronavirus pandemic. The group said it made an operating profit of 293 million euros (£245 million) between April and June, compared with a 967 million euro (£810 million) loss during the same period last [...]
British Airways’ boss calls on ministers to take accountability over travel chaos June 12, 2022 The boss of British Airways’ owner Luis Gallego has pointed the finger of blame at the government after weeks of travel chaos have seen cancelled flights and lengthy airport queues. In an interview with The Sunday Times, the airlines chief said the government had to “take some accountability for all this,” referring to the shortage-induced [...]
IAG shareholders revolt against ‘excessive’ share award to boss Luis Gallego May 24, 2022 Shareholders at British Airways’ parent company IAG have revolted against the “excessive” share award given to boss Luis Gallego. Proxy voting agency Glass Lewis told investors to vote against the policy at IAG’s annual general meeting next month, as the proposal to increase Gallego’s share award from 100pc of his salary to 150pc under IAG’s [...]
British Airways owner IAG buys 50 new 737 aircraft from Boeing May 19, 2022 British Airways owner IAG has struck a deal with Boeing to buy a fleet of 50 new 737 Max planes, which will be delivered between 2023 and 2027. The group said it had agreed to buy 25 of the 737 Max 8200 planes – first ordered by low-cost airline Ryanair – and another 25 of [...]
British Airways owner IAG predicts bounce back to profitability on return of global travel May 6, 2022 British Airways owner International Airlines Group (IAG) today said it believes the easing of global restrictions and the return of global travel will see it bounce back to profitability. The firm – formed through the merger of Iberia and British Airways in 2011 – said its Q1 2022 passenger numbers were 65 per cent those [...]
IAG boss says Air Europa deal will take at least 18 months April 6, 2022 The IAG – Air Europa deal will not be finalised for at least 18 months, IAG’s chief executive Luis Gallego said this morning. “We have to decide on a calendar to take 100 per cent, but I think it would take minimum 18 months,” said Gallego, adding that the company will need to secure anti [...]
CAA board member steps down over IAG conflict of interest March 22, 2022 A member of the Civil Aviation Authority (CAA) was forced to step following a conflict of interest, the aviation regulator announced yesterday. A former British Airways’ (BA) director of engineering, Garry Copeland resigned after a CAA audit of the members’ financial interest found he was holding some shares in BA’s parent company IAG instead of [...]
IAG offers €100m loan to Globalia for 20 per cent stake in Air Europa March 17, 2022 British Airways’ owner IAG offered today a €100m loan to Air Europa in exchange for a 20 per cent stake in the company. The airline said the seven-year unsecured loan would be offered to the carrier’s owner Globalia and, following regulatory approvals, it could be turned into the 20 per cent share. “This agreement will [...]