All International Airlines Group ( IAG ) articles – Page 5
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NewsBritish Airways pilots strongly back cost-savings pact
British Airways pilots have voted convincingly in favour of accepting a pay deal recently negotiated between the airline and its cockpit union. The union, BALPA, says that 85% of its members backed the deal, based on a turnout of 87%. BALPA expects around 270 compulsory redundancies but says ...
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News
IAG to maintain Level’s Barcelona arm after crisis-driven retreat
IAG is to maintain its Level operation out of Barcelona, having retreated from its expansion of the budget brand in other parts of Europe. The parent company indicates that it is cutting back Level’s long-haul fleet of seven Airbus A330-200s to just two aircraft. Level had four A330s ...
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News
IAG impairs fleet after BA 747 and Iberia A340 retirements
IAG has taken a €729 million ($863 million) charge in conjunction with a broad fleet impairment covering 61 aircraft, including the withdrawal of British Airways’ Boeing 747-400 fleet and Iberia’s Airbus A340-600s. The exceptional charge deepened IAG’s already-dire operating loss for the first half to just over €4 billion, ...
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News
Qatar Airways on board as IAG proposes €2.75bn capital increase
British Airways and Iberia parent IAG is proposing a €2.75 billion capital increase, to which Qatar Airways – its largest shareholder with 25% – has already agreed to sign up. IAG says the increase would strengthen its balance sheet and liquidity, and reduce financial leverage, given that it does ...
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News
Airlines call for joint Europe-USA coronavirus testing programme
Chief executives at IAG, Lufthansa, American Airlines and United Airlines have written a letter to US vice-president Mike Pence and European home-affairs commissioner Ylva Johansson, urging them to adopt a joint Covid-19 testing programme to enable transatlantic passenger flights to resume.
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In depth
European carriers aim to cut their way through the crisis
While the short-term focus among European carriers has been on finding ways to survive the crisis and resume services, airlines have been quick to signal sizeable cuts to their operations with few expecting traffic to return to previous peaks before 2023
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News
IAG’s Walsh pessimistic and puzzled by UK quarantine scheme
IAG chief Willie Walsh is pessimistic over the potential impact of a quarantine measure for inbound air passengers floated by the UK government. Prime minster Boris Johnson stated on 10 May that the quarantine – intended to prevent coronavirus re-infection from abroad – would apply to passengers arriving “by ...
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News
Air Europa deal still makes sense but work to do to complete: Walsh
IAG chief executive Willie Walsh believes its planned acquisition of Spanish carrier Air Europa still makes strategic sense but notes work is still ongoing regarding pricing and competition issues before a decision on completion can be made. The Iberia and Vueling parent in early November outlined its ...
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News
IAG scales back planned deliveries to 75 over next three years
British Airways and Iberia parent IAG now expects to take delivery of 75 aircraft over the next three years as it reduces its fleet requirements in line with expectations that passenger demand will not return to pre-crisis levels before 2023. The new fleet plan marks a reduction of 68 ...
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News
Walsh to step down in September as IAG eyes ‘meaningful’ return in July
IAG chief executive Willie Walsh will step down in September as the British Airways and Iberia parent aims for a “meaningful” return of services in July. Walsh, who has led the group since is inception, was originally due to step down in March but delayed the move as the ...
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Analysis
How will crisis impact airline mergers?
Airlines and regulators are having to adjust to a fast-changing landscape as they consider merger and acquisition plans, both those put in play before the coronavirus crisis hit and those that might emerge in its aftermath.
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News
IAG’s Spanish carriers secure €1bn in financing under state-backed loans
IAG’s Spanish units Iberia and Vueling have secured financing for €750 million and €260 million respectively under a syndicated agreement which will be guaranteed by the state-owned bank Instituto de Credito Oficial (ICO).
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News
IAG cancels planned dividend payment
IAG is withdrawing its proposal to pay a €0.17-per-share final dividend to investors, following the coronavirus shutdown. The group will instead propose, at its annual shareholders’ meeting, that all of its 2019 profit – save that already paid as an interim dividend – be added to voluntary reserves. ...
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News
IAG not seeking state aid as Virgin appeals for government credit
IAG has not approached governments for state aid to assist the company through the coronavirus crisis, chief executive Willie Walsh has disclosed. Speaking during a 16 March briefing, Walsh said the company had not followed other individual carriers in seeking financial assistance from governments. “Governments would expect airlines ...
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News
IAG looks at recruiting passenger jets to serve critical freight lines
IAG is considering recruiting some of its passenger aircraft for air freight operations, to ensure that essential cargo supplies are maintained as the coronavirus crisis persists. Chief executive Willie Walsh, speaking during a 16 March briefing, said that governments “need to appreciate” that there is a strong cargo demand, ...
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News
IAG to accelerate retirement of older BA and Iberia aircraft
British Airways and Iberia parent IAG is considering accelerating the retirement of older aircraft in the fleet – including some Boeing 747-400s and Airbus A340-600s – as part of the capacity-reduction measures being introduced to deal with the coronavirus outbreak. Speaking during a 16 March briefing, IAG chief executive ...
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News
IAG delays management changes as it braces for 75% capacity cut
British Airways and Iberia parent IAG’s management team is to remain in place for the time being, to help steer the company through the coronavirus crisis, as it prepares to cut capacity by 75% for April and May. IAG chief Willie Walsh is delaying his retirement, and his successor ...
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News
Iberia hands Spanish slots to Volotea to ease IAG-Air Europa approval
Spanish carrier Volotea is poised to ease Iberia parent IAG’s acquisition of Air Europa, by reinforcing competition on overlap routes that might otherwise attract European regulatory objections. Under a provisional agreement with IAG, Volotea would open at least two, and up to four, bases in Spain in order to ...
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News
Strong IAG full-year profits dip but coronavirus clouds 2020 outlook
British Airways and Iberia parent IAG’s operating profit before exceptional items slipped 5.7% for the full year in 2019 to €3.29 billion as its fuel costs rose.
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News
How A4E is answering Europe’s airline sustainability challenge
Sustainability is the hot topic for industry body Airlines for Europe (A4E) as it heads towards its annual Aviation Summit in Brussels on 3 March.
