International Airlines Group News
Virgin Atlantic rallies against IAG’s BMI takeover
Virgin Atlantic is set to appeal against the European Commission’s decision to allow IAG, BA’s parent company, to acquire BMI for £172.5m. Virgin boss Sir Richard Branson claims that the deal, which gained regulatory approval on 30 March, could damage the aviation industry for years to come.
IAG gets approval for BMI takeover
British Airways’ parent IAG has secured approval for the takeover of BMI from its current owner Lufthansa. The £172.5m deal is expected to be finalised later this month.
International Airlines Group expresses interest in re-floated JAL
In a long expected move, International Airlines Group has confirmed it would consider taking a stake in Japan Airlines (JAL) when it re-lists on the stock exchange later this year. IAG – the holding company behind British Airways and Iberia – is already closely affiliated to the carrier through the oneworld airline alliance.
Profits increase at International Airlines Group
International Airlines Group – operators of British Airways and Iberia – has seen profits soar during 2011. In total the group recorded operating profit of €485 million over the 12 months to December 31st, up from €225 million the previous year.
British Airways and Japan Airlines boost partnership
International Airlines Group and Japan Airlines have signed plans for a new joint business between British Airways and JAL on flights between Europe and Japan. Both carriers are already part of the oneworld airline alliance.
International Airlines Group sees traffic surge
International Airlines Group saw traffic measured in revenue passenger kilometres increase by 12.2 per cent in December 2011 when compared to the previous year. Growth was led by British Airways, which accounted for nearly 70 per cent of passengers flown, while Spanish counterpart Iberia saw virtually static demand.
British Airways closes deal for bmi with Lufthansa
British Airways owner International Airlines Group has agreed to purchase bmi from Lufthansa for £172.5 million. IAG chief executive Willie Walsh warned there would be job losses during the restructuring of the loss-making carrier, but said the long-term growth of its operations at London Heathrow would be of benefit to the UK.
IAG sets new $2bn long-term profit target
International Airlines Group has set a new long-term operating profit target of around €1.5 billion in 2015. The airlines group said it expected to achieve annual synergies of €450 million in 2015, up from earlier predictions of €400 million.
International Airlines Group secures deal for BMI with Lufthansa
German flag-carrier Lufthansa and International Airlines Group have reached an agreement in principle on the sale of British Midland. Also today, IAG announced financial results showing pre-tax profits in the nine months to September 30th rose from €63 million to €355 million.
Etihad and IAG in frame for Aer Lingus
Etihad Airways and International Airlines Group (IAG) have emerged as possible partners for troubled Irish carrier Aer Lingus. The Irish government is considering disposing of its 25 per cent stake in the carrier as it seeks to battle budget deficits.
Walsh goes on offensive over ‘hugely negative’ APD
Willie Walsh, chief executive of International Airline Group, has called for the British government to look at the full negative effect Air Passenger Duty is having on the economy. For the good of the economy, Walsh argued chancellor of the exchequer George Osborne needed to look past the fixation with deficit reduction.
British Airways swoops for BMI landing slots at Heathrow
International Airlines Group has confirmed subsidiary British Airways will purchase six daily slot pairs at London Heathrow from bmi British Midland International. The slots will be used by British Airways from late October 2011 with the airline looking to expand both its long-haul and short-haul network at the airport.