International Airlines Group News
IAG signs distribution deal with Sabre
Sabre Corporation has agreed a new multi-year distribution agreement with International Airlines Group, incorporating British Airways Iberia, Iberia Express and Vueling. Under the newly expanded agreement, British Airways, Iberia and Iberia Express will market and sell their airfares and ancillaries through Sabre’s global travel marketplace.
US Airways joins IAG in transatlantic business
Bigger is definitely better for transatlantic travellers now that IAG airlines British Airways and Iberia’s joint business with American Airlines has been extended to include American’s merger partner, US Airways. Following the merger between American Airlines and US Airways, customers booking with British Airways and Iberia will now be able to choose from a total of 70 direct flights a day between the UK and US and up to 16 flights per day between Spain and North America.
IAG returns to profit as Iberia begins turnaround
International Airlines Group has returned to profit as attempts to turn around the struggling Spanish flag-carrier Iberia start to pay dividends. IAG, which also owns British Airways, said it made an operating profit of €770 million before exceptional items in the year to December 31st, compared to a loss of €23 million in 2012.
IAG Cargo purchase air cargo capacity with Qatar Airways
IAG Cargo has announced that it has signed a long-term commercial agreement to purchase capacity on Qatar Airways-operated air cargo freighters, effective from May 1st 2014. Qatar Airways will operate five B777F flights a week between Hong Kong and London, via Doha, on behalf of IAG Cargo, providing continuity of service for IAG Cargo customers.
International Airlines Group sees passenger revenues increase
International Airlines Group saw traffic measured in revenue passenger kilometres increase by 10.6 per cent last month when compared to December 2012, according to the latest figures from the European giant. Group capacity measured in available seat kilometres rose by 9.1 per cent over the same period.
IAG announces board reshuffle
The board of International Consolidated Airlines Group has announced changes to the governance of the group, which will take effect from January 1st 2014. Antonio Vázquez and Sir Martin Broughton will resign as non-executive chairmen of Iberia and British Airways, respectively, and will continue to focus on their functions as chairman and deputy chairman/senior independent director of IAG.
IAG places faith in Vueling with massive short-haul order
International Airlines Group has secured firm orders and options for up to 220 Airbus A320 family short-haul aircraft – up to 120 of these for its subsidiary Vueling. The new aircraft will enable the Barcelona-based airline to replace some of its existing A320 fleet and expand its business.
IAG returns to black for second quarter
International Airlines Group has reported an operating profit of €245 million before exceptional items in the three months to June 30th, based on strong passenger unit revenues and non-fuel unit cost improvements. The company – which operates British Airways, Iberia and Vueling – reported a loss of €4 million for the same period of 2012.
Bankia sells stake in IAG
Spanish bank Bankia has sold its 12.1 per cent stake in International Airlines Group (IAG) to institutional investors for €675m, according to reports.
IAG to issue bonds to cover Vueling purchase
International Airlines Group is launching a senior unsecured convertible bond offer of up to an approximate maximum amount of €400 million to fund its acquisition of Vueling, enhance liquidity and lower its cost of capital. The bonds, which are due to mature in 2018, can be converted into ordinary shares of IAG.
Iberia restructuring costs drag down IAG
International Airlines Group has reported a first quarter operating loss of €278 million, before exceptional items, an increase from the €249 million losses reported in the same period a year ago. Losses were largely due to an exceptional charge of €311 million in the quarter, principally relating to restructuring at Iberia.
IAG completes Vueling purchase following board agreement
Vueling, the Spanish low-cost carrier based in Barcelona, is to become part of International Airlines Group after the majority of its shareholders accepted IAG’s cash tender offer for the airline, following recommendation by the Vueling board. IAG’s subsidiary Iberia already owns 45.85 per cent of Vueling’s shares and Iberia’s board agreed not to tender them in the offer.