British Airways boss Willie Walsh pockets £6.4m as firm recovers March 5, 2015 British Airways boss Willie Walsh saw his pay packet rise by a third last year, reflecting his ongoing success in turning parent company IAG around. The ex-trade unionist has become something of a star in the City after his successful handling of the BA and Iberia merger, and his ability to deliver good returns to [...]
IAG share price soars after Iberia turnaround and British Airways profit deliver record results February 27, 2015 The figures International Airlines Group's stock rose more than five per cent in early trading after the group which owns carriers British Airways and Iberia, among others, announced a 95.3 per cent rise in operating profit after exceptional items in 2014 to €1.03bn (£750m), from €527m last year. The group now expects to make operating [...]
IAG approach for Aer Lingus turned down by Irish government February 24, 2015 The Irish government has turned down a bid from the International Airlines Group (IAG) for Aer Lingus, saying it was not willing to sell its stake in the airline without further assurances. The government wants commitments on growth prospects and the safeguarding of jobs, before it considers selling its 25 per cent stake. Willie Welsh, [...]
Aer Lingus names Stephen Kavanagh new chief executive amid IAG takeover bid February 16, 2015 A new chief executive will take over the pilot's seat at Aer Lingus as the budget airline negotiates a potential takeover by British Airways owner IAG. Stephen Kavanagh has been handed the top job, replacing outgoing Christoph Mueller who disembarks the Irish airline at the end of February to board beleaguered carrier Malaysia Airlines as [...]
Qatar Airways takes stake in British Airways and Iberia owner IAG becoming largest shareholder January 30, 2015 Qatar Airways has bought a 9.9 per cent stake in British Airways and Iberia owner International Airlines Group (IAG) becoming its largest shareholder. The state-owned carrier said it would consider increasing this stake as it expands further into European markets, however this is limited by EU rules on ownership by non-EU companies. The flag carrier [...]
IAG offer to buy Aer Lingus facing political obstacle January 28, 2015 THE PROPOSED takeover of Irish airline Aer Lingus by International Consolidated Airlines Group (IAG) has come under fire in the Irish parliament. The Irish government owns a 25.1 per cent stake of the national flag carrier, which is close to agreeing a €1.36bn (£1.01bn) sale to IAG. Timothy Dooley, transport spokesman from the opposition Fianna [...]
Aer Lingus takeover: IAG will “engage with Irish government” to secure its support January 27, 2015 International Consolidated Airlines (IAG) is ready to add Aer Lingus to its roster, with the Irish airline's board set to recommend its third takeover to shareholders. According to IAG, the Aer Lingus board is ready to accept the €1.35bn (£1.01bn) cash offer equal to €2.55 per share, subject to certain pre-conditions. Shares in IAG and Aer [...]
Aer Lingus mulls IAG bid as offer rises to €1.36bn January 26, 2015 Shares climbed 2.42 per cent at International Consolidated Airlines Group (IAG) yesterday, after the company confirmed that it had submitted a third offer for Irish flag carrier Aer Lingus. IAG, which owns British Airways, is proposing a bid of €2.55 per share, which values Aer Lingus at around €1.36bn (£1.02bn). The Irish firm stated that [...]
Aer Lingus is considering IAG’s increased offer January 26, 2015 Irish flag carrier Aer Lingus is considering a takeover bid by British Airways owner International Consolidated Airlines (IAG). In a market update this morning, it said: “the board is considering the revised proposal”. The most recent offer, which is the third IAG has made since December, values the Irish airline at €1.34bn (£1bn), or €2.50 [...]
British Airways owner IAG makes third Aer Lingus takeover offer January 24, 2015 International Consolidated Airlines (IAG) has increased its takeover offer for Aer Lingus. The owner of British Airways and Spain’s Iberia has submitted a revised proposal to the Aer Lingus board that values the Irish carrier at €1.34bn (£971m) according to Sky News. IAG has already had two cash takeover bids of €2.30 and [...]