Having initially signed to pay €1 billion for the carrier in November 2019, the European aviation giant has now approved a deal valued at €500 million.
International Airlines Group has confirmed that Antonio Vazquez has retired as a director of the company and chairman of the board. As previously announced, Javier Ferran has succeeded him as chairman.
International Consolidated Airlines Group has implemented plans it says will ensure that its EU licensed airlines continue to comply with current ownership and control rules following Brexit.
IAG Cargo has announced a return of its direct service from the United Kingdom to South Korea. The route was paused earlier this year due to the Covid-19 pandemic.
International Airlines Group has reported an operating loss of €1.3 million for the third quarter, down from a profit of €1.4 million for the same three months last year.
International Airlines Group has reported a loss of €1.3 billion for the third quarter and confirmed it will make further capacity cuts for the rest of the year.
Alex Cruz, chairman and chief executive British Airways, is to step down from the roles with immediate effect. He will remain with the airline as non-executive chairman.
The group – which owns British Airways, Iberia and Aer Lingus – said it now plans to operate 40 per cent of its 2019 capacity during the autumn.
Sánchez-Prieto has served as strategic planning and finance manager at Iberia during the period in which the company returned to profitability following several years of losses.
Luis Gallego has taken up the role of chief executive with International Airlines Group. He was previously chairman and chief executive of Iberia, and took on the top job after the annual general meeting.
International Airlines Group has reported an operating loss of €1.3 billion before exceptional items for the second quarter, compared to a profit of €960 million last year.
Having reached nine years in office last January, the maximum recommended in the UK corporate governance code, Antonio Vázquez will step down in January.