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 [...]
BA’s owner IAG looks at all options but steers clear of rights issue March 2, 2022 British Airways’ (BA) owner IAG is reportedly looking at all options to best navigate the period’s ups and downs but said it was for the moment steering clear of rights issues. IAG’s boss Luis Gallego said that, while the group was starting to recover from the pandemic’s impact, geopolitical and economic turmoils pushed it to [...]
BA’s owner IAG commits to 40 per cent female management by 2025 March 1, 2022 British Airways’ (BA) owner IAG extendeded today its gender equality commitments, pledging to reach a 40 per cent female management target by 2025. While female representation on the group’s board stands currently at 42 per cent, since 2021 women have occupied a 33 per cent of all senior management positions in the company. The new [...]
IAG fleet not having same issues as Qatar Airways, boss says February 25, 2022 IAG’s boss Luis Gallego said today the airline’s Airbus A350 fleet is not experiencing the same level of degradation as Qatar Airways. “We don’t have the same type of issues that Qatar has, and we are operating A350s, and we have not had problems,” the chief executive explained, adding that the EU aviation safety regulator, [...]
French and Germany pressure may force IAG to spin off British Airways February 10, 2022 British Airways’ (BA) parent company IAG could be forced to spin off BA as Germany and France might push to reinstate EU ownership rules. According to HSBC analysts, IAG – who owns the likes of Aer Lingus, Iberia and Vueling – might be forced to make BA a truly independent company as regulations require airlines [...]
BA owner IAG lures Nicholas Cadbury away from Whitbread for CFO job January 27, 2022 Nicholas Cadbury, finance director at hotel and restaurant giant Whitbread, will join British Airways’ owner IAG as chief financial officer on 21 March. The news, confirmed this morning, was first announced in October after the current chief financial officer Steve Gunning decided to step down. “It has been a wonderful experience to be involved in [...]
Fly me to Seville: Vueling opens new Gatwick base, adding five routes January 19, 2022 IAG’s subsidiary and low-cost carrier Vueling has opened a new base at Gatwick, adding five new routes to Spanish cities such as Seville, Granada and Menorca. Flights from Gatwick to Malaga, Seville and La Coruna will begin on 1 April while the Gatwick-Menorca and Gatwick-Granada will start flying passengers from the day after. All the [...]