British Airways boss Willie Walsh pockets £6.4m as firm recovers March 5, 2015 British Airways boss Willie Walsh saw his pay packet rise by a third last year, reflecting his ongoing success in turning parent company IAG around. The ex-trade unionist has become something of a star in the City after his successful handling of the BA and Iberia merger, and his ability to deliver good returns to [...]
City spin legend Brian Basham lands a top job March 4, 2015 Financial markets website ADVFN has called in a man of many talents UK FINANCIAL market information specialist ADVFN yesterday appointed veteran City journalist, PR guru and small business patron Brian Basham as a non-executive director. Best known for his spell as the PR adviser to British Airways during its “dirty tricks” war of words with [...]
FTSE climbs in late rally as BA owner IAG soars – London Report March 4, 2015 BRITAIN’S top share index rebounded late yesterday, helped by a surge in British Airways owner International Airlines Group (IAG) due to strong traffic figures and by rallies in broadcaster ITV and bank Standard Chartered. The FTSE 100 snapped a three-day losing streak to end 0.4 per cent higher at 6,919.24 points after trading as low [...]
European shares soar to seven-year high as Germany approves Greece bailout February 27, 2015 European markets soared this morning after Germany approved plans to extend Greece's bailout loan by four months – causing investors to shed concerns about a Grexit. For the time being, anyway. The German Bundestag approved Greece's bailout deal, which will prevent it from defaulting when its current programme of loans ends on Saturday. The FTSEurofirst [...]
IAG share price soars after Iberia turnaround and British Airways profit deliver record results February 27, 2015 The figures International Airlines Group's stock rose more than five per cent in early trading after the group which owns carriers British Airways and Iberia, among others, announced a 95.3 per cent rise in operating profit after exceptional items in 2014 to €1.03bn (£750m), from €527m last year. The group now expects to make operating [...]
Irish government snubs IAG’s £1bn Aer Lingus offer February 24, 2015 The Irish government yesterday rejected a bid by British Airways owner International Airlines Group (IAG) for Aer Lingus, saying it was not willing to sell its stake in the airline without further assurances. The government wants commitments on growth prospects and the safeguarding of jobs, before it considers selling its 25 per cent stake as [...]
Aer Lingus underlying profit flies 17.8 per cent higher February 24, 2015 The figures Airliner Aer Lingus said that passenger numbers had jumped 1.5 per cent to 9,766, up from 9,625 a year earlier. This pushed operating profit before exceptional items up 17.8 per cent to €72m (£52.7m) from €61.1m in 2013. But staff "stabilisation" payments of annual salary increases and a one-off charge to resolve pension funding issues tipped the [...]
Aer Lingus names Stephen Kavanagh new chief executive amid IAG takeover bid February 16, 2015 A new chief executive will take over the pilot's seat at Aer Lingus as the budget airline negotiates a potential takeover by British Airways owner IAG. Stephen Kavanagh has been handed the top job, replacing outgoing Christoph Mueller who disembarks the Irish airline at the end of February to board beleaguered carrier Malaysia Airlines as [...]
Criminal cartel agreements: Businesses need to know what they’re getting into February 12, 2015 You would not be alone in not knowing that there is such a thing as a criminal cartel, let alone how it is defined in UK law. But a significant change to this definition last year will mean that something few were aware of will now be increasingly on the radar of British businesses, who [...]
Aer Lingus loses passengers but wins EU lawsuit February 5, 2015 BOTH Aer Lingus and rival EasyJet have posted disappointing passenger numbers for the first month of 2015. The Irish flag carrier said mainline passenger numbers fell 4.5 per cent year-on-year in January to 546,000. Aer Lingus, which is subject to a potential takeover bid from British Airways owner International Airlines Group (IAG), said its long-haul [...]