International Consolidated Airlines Group SA (CDI) The mutter from the City gutter is that the secretive Patrick Drahi has set his sights on the division that... We must overcome this crisis ourselves, too.We do not know when countries will reopen their borders or when the lockdowns will lift, and so we have to reimagine and reshape our airline and create a new future for our people, our customers and the destinations we serve. Luis Gallego, currently Iberia chief executive, will succeed Willie.Antonio Vázquez, IAG chairman, said: “Willie has led the merger and successful integration of British Airways and Iberia to form IAG. However, the Group expects its operating loss in the second quarter to be significantly worse than in the first quarter, given the substantial decline in passenger capacity and traffic and despite some relief on employee costs from government job retention and wage support schemes.Total cash and undrawn general and committed aircraft finance facilities amounted to €9.5 billion at the end of March, including €6.95 billion of cash, cash equivalents and interest-bearing deposits.Recovery to the level of passenger demand in 2019 is expected to take several years, necessitating Group-wide restructuring measures.Letter to colleagues from Alex Cruz, Chairman and CEO at British AirwaysOn April 27, British Airways flew just a handful of aircraft out of Heathrow. (Iberia), has agreed to acquire the entire issued share capital of Air Europa for €1 billion to be satisfied in cash at Completion  and subject to a closing accounts adjustment.Commenting on today’s announcement, Willie Walsh, Chief Executive of IAG, said:Air Europa is one of the leading private airlines in Spain, operating scheduled domestic and international flights to 69 destinations, including European and long-haul routes to Latin America, the United States of America, the Caribbean and North Africa. (Sharecast News) - The Brexit negotiator, Lord Frost, has signalled to Michel Barnier, the EU's frontman, that he will recommend Britain leaves without a trade deal unless Brussels drops demands the UK... Prices delayed by at least 15 minutes
International Consolidated Airlines Group SA (CDI) Under Willie’s leadership IAG has become one of the leading global airline groups.“Willie has been the main driver of this unique idea that is IAG. Production of the 777X began in 2017, with first flight expected later this year and first delivery expected in 2020.International Airlines Group (IAG) operates 582 aircraft and serves 268 destinations, carrying 113 million passengers in 2018.

Ord EUR0.50 (CDI) (Sharecast News) - Mergers and acquisitions speculation continued to drive sector moves at the start of the week - yet again. We have a management team experienced in similar situations and have demonstrated that we can respond quickly to changing market conditions. IAG is resilient with a strong balance sheet and substantial cash liquidity.”Antonio Vázquez, IAG´s chairman, said: “As we respond to COVID-19, Willie, Luis and the board of IAG have decided that management stability across the Group should be a priority in the near term. Your Central Hub for the Latest News and Photos powered by AirlinersGallery.com Images.

The results for the six months were significantly impacted by the outbreak of COVID-19, which has had a devastating impact on the global airline and travel sectors, particularly from late February 2020 onwards. Proposed capital increase of up to €2.75 billion, to be supported by irrevocable commitment from largest shareholder and underwritten, subject to approval at General Shareholders’ Meeting in SeptemberFor definitions refer to the Alternative performance measures section.“In quarter 2 we’re reporting a record operating loss of €1,365 million before exceptional items compared to an operating profit of €960 million last year.

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