All International Airlines Group ( IAG ) articles – Page 6
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NewsBritish Airways parent IAG takes €275m charge for staff cuts
IAG has recorded exceptional charges of €275 million ($321 million) in the third quarter relating to staff restructuring at British Airways and Aer Lingus. The parent company says the restructuring corresponds to a reduction of 10,000 in employee numbers, of whom over 9,000 had left by the end of September. ...
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NewsIAG cuts fourth-quarter capacity levels again
British Airways and Iberia parent IAG has cut its expectations for fourth-quarter capacity, estimating that it will be 70% down on the previous year. IAG had already lowered its capacity forecast for the quarter to 60% down – from a previous 46% down – in early September. But the company ...
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NewsBritish Airways chief Alex Cruz to step down, succeeded by Aer Lingus head Doyle
British Airways chief executive Alex Cruz is to step down from his position, after four years, to be succeeded by Aer Lingus chief Sean Doyle. Parent company IAG states that the change is part of a management reshuffle that takes place “with immediate effect”, but has not elaborated on the ...
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NewsIAG receives strong response to recapitalisation share offer
British Airways and Iberia parent IAG has received a strong response to the share issue undertaken to reinforce the company’s liquidity. It has received acceptances for the entire batch of nearly 2.98 billion shares offered under the capital increase. IAG says that, by the end of a pre-emptive subscription period ...
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Airline BusinessFor airlines, a focus on 'getting back to 2019 ' ignores reality
As with many coronavirus crisis-related discussions – involving airlines or otherwise – it is tempting to focus on getting back to how things were, even at the cost of considering that some changes might be for the better.
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NewsIAG dials back capacity outlook as recovery falters
IAG has pulled back its capacity planning for this year and next, after the initial encouraging signs of booking recovery in the air transport crisis started to level off. It is expecting third-quarter capacity to be 78%, rather than 74%, down on last year’s figure, while the fourth quarter will ...
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Airline BusinessWinter of disconnect ahead for Europe’s airlines
There are few crumbs of comfort for European airlines as they look back on a worse-than-expected summer season and forward to what could be a bleak winter.
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NewsIAG shareholders approve capital increase and director pay
Shareholders have voted in favour of IAG’s proposed €2.75 billion ($3.25 billion) capital increase during the group’s AGM today, while also approving the directors’ remuneration package.
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NewsWalsh hands over IAG reins – and challenges – to Gallego
Willie Walsh signed off as chief executive of British Airways and Iberia parent IAG during the group’s AGM today, while also confirming he is leaving the aviation industry after a four-decade career.
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NewsIAG’s Walsh warns against obtaining liquidity without structural reform
Outgoing IAG chief Willie Walsh has warned that obtaining liquidity will offer a false sense of security to airlines unless they fundamentally adapt their business to reflect a different post-crisis market. Walsh points out that British Airways’ second-quarter operating loss of £711 million eclipses that of previous crises – including ...
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NewsAir Europa acquisition remains justified: IAG’s Walsh
IAG is striving to close the acquisition of Air Europa by the end of this year, undeterred by the impact of the air transport crisis, although it is reviewing the structure of the €1 billion ($1.2 billion) deal in response to the downturn. While outgoing IAG chief Willie Walsh has ...
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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 the agreement ...
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NewsIAG 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 deployed in ...
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NewsIAG 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, in ...
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NewsQatar 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 not ...
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NewsAirlines 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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Airline BusinessEuropean 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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NewsIAG’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 air”. ...
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NewsAir 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 plan to acquire ...
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NewsIAG 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 on ...