International Airlines Group News
Avios links with American Express for currency conversion
UK travel rewards programme Avios and American Express have formed a new partnership enabling members to collect points when exchanging foreign currency at all Express Exchange airport bureaux in the UK and Moneycorp London Gatwick airport locations. Avios members can make their money work harder for them, earning one Avios for every £1 exchanged when currency is ordered online or at the airport.
IAG weights up American Airlines stake
International Airlines Group has confirmed it is considering buying a stake in oneworld partner American Airlines in order to protect the alliance. IAG chief executive Willie Walsh said the move would allow the group – which operated the British Airways and Iberia brands – to extract “additional strategic value” from oneworld.
Iberia losses drag IAG into red
International Airlines Group has reported a loss before tax of €390 million for the first half of financial 2012, compared to a profit before tax of €39 million for the same period of 2011. While British Airways made an operating profit, after exceptional items, of €13 million in the half year to June 30th, Iberia made a loss of €263 million.
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Walsh warns UK government is damaging aviation industry
International Airlines Group chief executive Willie Walsh has launched a heated attack on the UK Government for damaging the aviation industry during a summit in Beijing.
Sale of BMI Regional completed
International Airlines Group (IAG) has confirmed that the sale of the regional airline division of BMI to Aberdeen-based consortium Sector Aviation Holdings has been completed today.
IAG receives anti-trust immunity for JAL joint business
International Airlines Group and Japan Airlines’ joint business has been granted anti-trust immunity from the Japanese ministry of land, infrastructure, transport and tourism. The agreement will allow British Airways and JAL to cooperate commercially on flights between the EU and Japan.
IAG sees fuel costs push losses higher
International Airlines Group has pointed to the high cost of fuel as the primary reason for widening financial losses. The group – which controls British Airways, Iberia and bmi – lost €263 million over the first three months of 2012, compared to just €47 million for the same period of 2011.
International Airlines Group confirms bmi Regional sale
International Airlines Group has signed a binding agreement to sell bmi Regional to Sector Aviation Holdings for a total consideration of £8 million in cash. Also today, British Airways confirmed nine bmi destinations will change from a bmi (BD) to the BA code and flight number from May 23rd.
bmibaby to be grounded in September
Budget airline bmibaby will be grounded from September, with some routes being stopped from next month, IAG has announced just weeks after it bought bmi from the Lufthansa Group for an undisclosed sum. The move by British Airways’ parent will put 500 jobs at risk.
Scottish-based consortium eyes bmi regional
The Scottish consortium, Granite Aviation, is thought to be in advanced talks with IAG over the sale of bmi regional for £20 million, according to reports. The news comes just one week after IAG completed its puchase of bmi for an undisclosed sum.
Willie Walsh, chief executive, International Airlines Group
Willie Walsh, chief executive, International Airlines Group, offers Breaking Travel News his thoughts on the latest developments in the aviation sector.
IAG completes bmi acquisition
British Airways parent International Airlines Group (IAG) has completed the purchase of bmi from Lufthansa today. IAG revealed it will also be taking over bmibaby and bmi regional for an unspecified “substantial price reduction”, but it does nt plan to integrate these businesses into BA.