International Airlines Group (IAG) has reached agreement with Boeing to order 25 737-8200 and 25 737-10 aircraft, plus 100 options.
IAG, parent company of Aer Lingus, British Airways and Iberia, reports that the easing of Covid controls has improved demand in the first quarter, especially from premium travel. Strong customer demand is expected to drive profitability from the second quarter onwards.
IAG said today it will loan Air Europa parent Globalia €100 million with the option to convert it into a stake of up to 20 per cent in Madrid-based Latin America specialist.
International Airlines Group has reported a statutory operating loss of €2.8 billion for 2021. While still in the red, the figure is a marked improvement on the €7.5 billion lost in 2020.
The International Airlines Group-owned carrier will now offer a total of 24 direct routes from the United Kingdom to Spain, France and Italy this summer.
The Competition & Markets Authority has a launched an investigation into the proposed takeover of Air Europa by International Airlines Group.
IAG has signed an agreement with Velocys, a sustainable fuels technology company, to acquire 220,000 tonnes of sustainable aviation fuel over ten years.
Luis Gallego, IAG chief executive, said: “There’s a significant recovery underway and our teams across the group are working hard to capture every opportunity.”
British Airways has signed an agreement with the UK government for a £1 billion loan. The deal, with UK Export Finance, was confirmed by owner International Airlines Group earlier.
International Airlines Group has reported an operating loss of €967 million for the second quarter. The figure is an improvement on the loss of €2.2 billion seen in the same period last year.