IAG

Tag Archives for IAG.

Ryanair to sell Aer Lingus stake to IAG

Ryanair has just announced that is accepting the £961 million IAG (parent company of British Airways) bid for Aer Lingus. The bid that was already blessed by the Irish authorities was already a precursor for the complete takeover of Aer Lingus and integration into the IAG network. The trans-Atlantic flight routes from Dublin are too hard to resist for Heathrow slot starved IAG. Ryanair owns 29.8% of Aer Lingus and wasn’t really a willing party to sell out the stake. They tried thrice to buy over Aer Lingus but failed in all their bids due to stiff opposition from all ends. I guess no wanted Ryanair to dominate the Irish market leaving them with no other option but to sell out. We may soon see…

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American Airlines, AMR take the bankruptcy protection route

After being the only major airline in the US history to not have filed one, American Airlines and its parent company AMR Corp filed for Chapter 11 bankruptcy protection today. There had been speculation going around ever since AMR shares suffered a hug 40% drop in October that airline may file for bankruptcy sooner or later to cut costs specially its labor costs which are currently the highest in the industry but the timing of this announcement seems to have caught everyone by surprise. While the bankruptcy protection gives AMR some elbow room in its ongoing discussions with the pilots and other work groups, it also renders the airline a ripe target for takeovers in an industry that is currently in a very fluid state…

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Iberia to launch Iberia Express for its short and medium haul routes

Spanish carrier Iberia which is part of the International Airlines group (IAG) has decided to start a new subsidiary named Iberia Express, the airline intends to service its short and medium haul destinations specially the Spanish domestic and European markets from Madrid offering Economy and Business Class seating at “Competitive” fares. The carrier which intends to use the subsidiary to feed traffic to its long haul operations has said that initially Iberia Express would start operations by utilizing existing Iberia aircraft, starting with four A320s going to 13 aircraft by the end of next year. The airline says its doing this to counter the competition from Low Cost Carriers(LCC) like Easyjet and Ryanair which have over the recent years strengthened their service offering to the…

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BA buys 6 daily slot pairs at Heathrow from bmi

BA is cementing its presence at its London-Heathrow (LHR) hub by buying 6 daily slot pairs from the troubled airline bmi British Midland International. As reported by BA parent, International Airlines Group (IAG) in a press release, “BA plans to use these slots from late October 2011 for operating more long-haul and short haul flights”. This is a big boost for the OneWorld alliance and a dent for the Star Alliance presence at the major hub in London. bmi is the second largest operator out of Heathrow airport serving many destinations both within UK and internationally, Initial reports suggest that the deal could be worth €100m-€150m. Of late bmi has been going through a series of troubles with its current parent Lufthansa planning to dispose it off…

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