BA’s owner IAG to pay €75m to Air Europa after pulling out of takeover agreement December 16, 2021 British Airways’ (BA) owner IAG has announced today it will pay €75m (£63.7m) to Air Europa following yesterday’s decision to pull out from a £420m takeover deal, leaving shares up 0.70 per cent at closing time. IAG said it would it would pay the rival carrier’s owner Globalia €35m, on top a €40m break-up fee, [...]
British Airways owner IAG moves to terminate takeover agreement with Air Europa December 15, 2021 IAG, the aviation giant that owns British Airways, Iberia and Aer Lingus, has moved to back-track on its takeover of Spanish airline Air Europa, bringing down shares by 4.59 per cent to 126.48p. The BA owner this morning said “discussions are at an advanced stage to terminate the agreement signed on 4 November 2019” whereby [...]
Airlines stocks jump as Omicron concerns are shrugged off December 6, 2021 The shares of several airlines – including British Airways’ owner IAG, Easyjet and Ryanair – jumped today, as a result of carriers shrugging off concerns about the latest Covid variant, Omicron. Evidence showing the mild effects of Omicron, which has not yet caused any deaths, has led to IAG going up to 142.26p from a [...]
Ex British Airways boss slams tougher Omicron travel rules as ‘knee-jerk decision’ as UK firms worry about Christmas November 29, 2021 Former British Airways boss Willie Walsh has dubbed countries’ tighter quarantine and testing rules as a “knee-jerk decision”, after concerns over the new Omicron Covid variant. Walsh, who used to head the airline group International Airlines Group, said the new rules imposed “a massive financial damage to the tourism and airline industry.” “It’s clear that [...]
Aviation recovery on its way, BA’s owner assures November 23, 2021 Luis Gallego, chief executive of British Airways’ (BA) owner IAG, is convinced aviation recovery will get back to pre-pandemic levels by 2023, as a result of the easing of air travel restrictions and the opening of transatlantic travel. Speaking yesterday at the Airlines UK conference in Westminster, Gallego revealed that “transatlantic bookings have reached almost [...]
BA’s owner IAG could face investigation over Air Europa’s takeover November 22, 2021 British Airways’s owner IAG could face a formal investigation by the UK Competition and Markets Authority (CMA) over the proposed takeover of Spanish carrier Air Europa. The watchdog announced today that it is “considering whether this transaction, if carried into effect, will result in the creation of a relevant merger situation” that could lead to [...]
British Airways shares in descent as it predicts 2021 Covid loss of €3bn November 5, 2021 The owner of British Airways and Iberia, IAG, reported a shrinking €2.6bn (£2.3bn) loss for the first nine months of 2021. However investors dumped IAG shares this morning after it indicated full year losses would still hit €3bn as passenger capacity has been slow to recover. Its lucrative UK-US travel corridor is due to finally [...]
Long-haulers slam APD hike as it “will penalise Global Britain” October 27, 2021 Long-haul carriers have criticised the Chancellor’s decision to increase air passenger duty (APD) rates for flights longer than 5,500 miles. Luis Gallego, chief executive at British Airways’ parent company IAG, said the move “will penalise Global Britain” at a time when the country should be more competitive on the global stage. “We need to get [...]