IAG hunts for new brokers as joins FTSE January 24, 2011 INTERNATIONAL Consolidated Airlines Group (IAG) began trading in London and Spain yesterday as British Airways and Iberia continued to complete their merger. IAG shares closed at 285p in London yesterday, 3p above BA’s final price of 282p. The new firm is overhauling its advisory teams, with a beauty parade underway for a corporate broker. UBS, [...]
Wetherspoon’s Down to be Go-Ahead’s finance head January 24, 2011 THE FORMER JD Wetherspoon finance chief who shocked the pubs sector by quitting in October was yesterday unveiled as transport group Go-Ahead’s new finance director. Go-Ahead, which runs a fifth of London’s buses as well as the Southern and South Eastern rail franchises, is listed in the FTSE 250. He will replace Go-Ahead’s Nick Swift [...]
BA and Iberia fly into FTSE January 23, 2011 THE COMPANY formed following the merger of British Airways with Spanish carrier Iberia will today join a small handful of foreign incorporated firms on the London Stock Exchange as a FTSE100 firm. International Consolidated Airlines Group (IAG) will fly into the FTSE100 as one of the UK’s top companies, despite its official status as a Spanish firm. [...]
Stocks to start the week lower on China fears January 23, 2011 Despite closing on Friday on a mild high, over the course of the week the FTSE still dropped nearly 1.8 per cent, managing along the way to close at its lowest level for five weeks, and it looks like the bears could resume control once again this morning. GFT is quoting the FTSE 100 index [...]
BA leaves the LSE ahead of Iberia merger January 20, 2011 BRITISH AIRWAYS will complete its merger with Spanish carrier Iberia today, with the enlarged company listing in London and Madrid on Monday morning. The British Airways ticker retired from the London stock market yesterday after 24 years, with the stock price giving BA a final market cap of £3.46bn. Investors will receive one International Consolidated [...]
FTSE mining and auto stocks hit by China tightening fears January 20, 2011 BRITAIN’S top share index sank to its lowest closing level in more than five weeks yesterday, weighed down by mining stocks on concerns over potential further monetary tightening by China and its impact on demand. The FTSE 100 closed down 108.79 points, or 1.8 per cent, at 5,867.91, its lowest close since December 13. Miners [...]
US Navy contract for Rolls January 17, 2011 BRITISH engineering group Rolls-Royce yesterday said it had won a contract to supply gas turbines and waterjets for up to 10 of the US Navy’s Littoral Combat Ships. Rolls-Royce already supplies propulsion equipment for some of the Lockheed Martin-built vessels and the new deal extends this with one firm order and options on a further [...]
Airport snow chaos costs BAA £24m January 12, 2011 AIPORTS operator BAA said yesterday its handling of the heavy snowfall in December will cost the firm at least £24m in lost revenues and added costs. This figure could rise as airlines including Virgin Atlantic, Lufthansa and BMI pressure the company to compensate them for cancelled flights and widespread disruption, mainly at Heathrow. “Anyone who [...]
BEST OF THE BROKERS January 12, 2011 BRITISH AIRWAYS Citi rates the airline a “buy” with a target price of £3.75, but marks it high risk ahead of the launch of its new post-merger holding company, International Consolidated Airlines Group, on 24 January. The broker says BA’s risks look manageable, while cost synergies and growing demand for first class travel will benefit [...]
BAA takes £24m hit from big freeze January 12, 2011 BAA expects to take a hit of around £24Mm from last month’s big freeze, which paralysed many of its airports and dented passenger numbers in the week before Christmas. Passenger traffic at BAA airports fell 10.9 per cent in December year-on-year after last month’s heavy snowfall wreaked havoc, especially at its biggest airport, London’s Heathrow, [...]