Business

New IAG boss predicts more cuts amid COVID crisis

Editorial Bureau October 30, 2020

LONDON (UK) – The new boss of British Airways-owner IAG warned he may have to strip even more costs from the business as a second wave of COVID-19 leaves its airlines staring at a bleak winter with very little travel. Forecasting fourth-quarter capacity at just 30% of 2019 levels, IAG

Business

Pandemic-induced travel slump has intensified, losses mount: British Airways

Editorial Bureau October 22, 2020

LONDON (UK) -IAG, which owns British Airways, has warned the travel slump resulting from the pandemic has intensified, forcing the airline to cut more of its winter flying schedule. This comes after it reported a quarterly loss of 1.3 billion euros (1.2 billion pounds) on Thursday. The loss was far larger than the 920 million […]

Business

IAG signs multi-year agreement with American Express

Editorial Bureau July 24, 2020

LONDON (UK) – International Airlines Group, which owns British Airways, said in a statement on Friday that it had inked a multi-year renewal pact with American Express. This is aimed at extending its worldwide commercial partnership with the payments firm. According to the agreement, American Express will make a payment to IAG Loyalty, which is […]

UK

Walsh from IAG believes Britain is throttling a travel recovery

Jim Stein May 14, 2020

LONDON (UK) – Britain’s quarantine plans and a minister’s comment that big foreign holidays were unlikely this year are seriously hindering any travel recovery, said Willie Walsh the boss of British Airways parent company IAG. Airlines have been brought to their knees by the coronavirus pandemic and are making tens of thousands of job cuts […]

Business

IAG to review flying resumption if British quarantine introduced

Ren Leen May 11, 2020

LONDON (Business) – British Airways owner IAG is going to review plans to restart flying in July. This is the case for when Britain shall introduce quarantine measures for international arrivals, according to its chief executive. “The announcements yesterday of a 14-day period for coming into the UK, it’s definitely going to make it worse. […]

Business

IAG CEO Willie Walsh expected to stay until September

Ren Leen May 7, 2020

LONDON (Business) – British Airways-owner IAG announced that its CEO Willie Walsh will remain on until 24 September. IAG also announced that flights could return to service in July. The coronavirus pandemic halted most flights with airlines cutting costs, shedding jobs and shrinking their operations. Walsh was planning to retire in March and now plans […]

UK

IAG’s Walsh feels chances ‘significantly reduced’ of new Heathrow runway

Ren Leen February 29, 2020

LONDON – British Airways-owner IAG’s CEO Willie Walsh said that the construction of a new Heathrow runway seems to be “significantly reduced” after Thursday’s court ruling. Heathrow has been attempting to expand but new runway expansion plans were blocked by the court on Thursday citing environmental concerns. “I believe the chances of a

Business

British Airways-owner IAG anticipates that coronavirus will hit earnings

Ren Leen February 28, 2020

LONDON – British Airways-owner IAG claims that coronavirus would hit this year’s earnings, however, the rapidly evolving nature of the coronavirus outbreak means it cannot be ascertained by how much. Coronavirus emerged late last year in China and has sent travel demand plunging of late as the outbreak has spread. IAG also owns Iberia and […]

Business

Qatar Airways puts in £460.9 million to lift stake in BA owner to 25%

Ren Leen February 20, 2020

LONDON/DUBAI – Qatar Airways has bought a $600 million(460.9 million pounds) stake in British Airways-owner IAG to increase its holding to 25.1%, strengthening its position ahead of a change in IAG management. In an endorsement of the Anglo-Spanish group just weeks before its founder Willie Walsh steps down, Qatar said on Wednesday the move showed […]

UK

COO and Director of People of British Airways to leave

Ren Leen February 17, 2020

On Sunday, British Airways said that its Chief Operating Officer Klaus Goersch and Director of People Angela Williams were to leave the company. The COO position will be filled by the former Director of Engineering Jason Mahoney. The Director of People position will be filled by IAG Cargo’s former Director of People Stuart Kennedy. Goersch […]