International Airlines Group News
IAG to acquire Irish government stake in Aer Lingus
International Airlines Group has agreed to purchase the Irish government held stake of flag-carrier Aer Lingus for approximately €1.4 billion. Existing Aer Lingus shareholders will receive €2.55 in cash for each Share, comprising a cash payment of €2.50 per share and a cash dividend of €0.05 per share. The terms of the transaction represent a premium of approximately 40 per cent on the closing price of €1.82 per Aer Lingus Share on December 17th 2014, the last dealing day prior to the first IAG offer.
Iberia recovery boosts profits at International Airlines Group
International Consolidated Airlines Group has released results for the year to December 31st, 2014, revealing the operating profit €1,390 million. This is up from €770 million in the previous year. Revenue for the year up was up eight per cent to €20,170 million, while passenger unit revenue for the year was down 0.4 per cent at constant currency.
IAG offers Irish government further guarantees over future of Aer Lingus
International Consolidated Airlines Group has offered the Irish government further guarantees over the future of services at flag-carrier Aer Lingus as it seeks to acquire the airline. IAG’s previous announcements about its proposal to make an offer for Aer Lingus Group have repeatedly highlighted the importance of direct air services and connectivity for investment and tourism in Ireland.
IAG seeks to sooth Irish government concerns over Aer Lingus acquisition
International Consolidated Airlines has highlighted the importance of direct air services and connectivity for investment and tourism in Ireland following its offer for the airline. IAG argues its proposal would secure and strengthen Aer Lingus’ long term future and brand as a member of a successful and profitable European airline group, offering significant benefits to both Aer Lingus and its customers.
Qatar Airways takes stake in International Airlines Group
Qatar Airways has acquired a 9.99 per cent stake in International Airlines Group, owners of British Airways, Iberia and Veuling. In a statement the Qatari flag-carrier said the deal was part of its efforts to enhance operations and strengthen existing commercial ties initiated through codeshare agreements with IAG, as well as its membership of the oneworld alliance.
Aer Lingus willing to recommend IAG takeover proposal to shareholders
The board of Aer Lingus has indicated to International Airlines Group that the financial terms of a propped takeover are at a level at which it would be willing to recommend it to Aer Lingus shareholders. IAG yesterday confirmed it had submitted an improved proposal to make an offer for Aer Lingus, valuing the company at €1.36 billion.
IAG inches closer to Aer Lingus deal
Board members at Air Lingus are “considering” the latest takeover offer from International Airlines Group. IAG – owner of British Airways and Iberia, as well as low-cost carrier Veuling – saw two offers for the Irish flag carrier rejected at the end of 2014, but returned with a revised offer of €2.55 a share. For the new €1.36 billion to be successful it must secure the recommendation of the Aer Lingus board and both Ryanair and the Irish government.
Aer Lingus rejects IAG takeover bid
International Airlines Group has revealed it has had a takeover offer, believed to be in the region of £750 million, for Irish flag-carrier Aer Lingus rejected. Shares in both companies surged as the bid became public, with a potential deal giving IAG-owned British Airways access to valuable landing slots at London Heathrow Airport.
International Airlines Group sees profits increase as Iberia continues recovery
International Airlines Group has upgraded its profit forecast after it reported a 30 per cent rise in third quarter profits. Operating profits at IAG - which owns both Iberia and British Airways - rose to €900 million in the three months to September 30th, up from €690m a year ago.
BA and Iberia launch 72 hour hold option
BA and Iberia have launched a new service allowing customers to hold flight reservations for up to three days before paying for them to 72 hours for as little as £5 through ba.com. Drew Crawley, British Airways’ chief commercial officer, said: “There’s nothing more frustrating than seeing a great flight price but not being able to book it straight away, either because you may need to get the time off work or check it’s ok with family or friends – then coming back and finding there are no seats left or the price has changed.”
International Airlines Group returns to black as Iberia struggles
International Airlines Group has reported second quarter operating profit €380 million, some €135 million better than last year. Revenue for the quarter at the group – which operates British Airways, Iberia and Veuling – was up 6.7 per cent to €5,086 million.
IAG signs latest airbus deal at Farnborough Air Show
International Airlines Group has converted 20 A320neo options into a firm order for the world’s most popular single aisle aircraft family at the Farnborough air show. These aircraft are currently intended to replace 21 short-haul British Airways’ aircraft. British Airways already operates 120 Airbus single aisle aircraft covering the full Family range from the smallest A318 to the largest A321.