International Airlines Group head Willie Walsh sees few attractive opportunities for acquisitions in the short to medium term after completing its move to take full control of Spanish low-cost carrier Vueling.
IAG, which controls British Airways and Iberia, finalised a deal for Vueling after a majority of the Barcelona-based carrier's shareholder accepted a cash tender offer. IAG already held a near 46% stake in Vueling and has increased this to just under 91% through the deal.
When IAG was established in 2010 much was made of the company's 'wishlist' of a list of a dozen carriers across a broad spectrum which could become future consolidation partners. Thus far BMI is the only other acquisition IAG has made.
"We don't see any opportunities," said Walsh, asked about potential to acquisition targets during a first quarter results conference call. "It's clear there are a lot of airlines in play, as we thought there would be. But they are peripheral airlines that we can't see adding value to the IAG group, or in all honesty, adding value to pretty much anybody. So we don't have any proposals to do anything and I don't see that is going to change in the short to medium term."