International Airlines Group (IAG) has announced an operating loss of 7.426 billion Euros ($9 billion) for the full 2020 financial year, a massive drop in comparison to the 3.285 billion Euro operating profit the conglomerate posted in the 2019 financial year. “Our results reflect the serious impact that Covid-19 has had on our business. The group continues to reduce its cost base and increase the proportion of variable costs to better match market demand. We’re transforming our business to ensure…
After more than a year since the initial agreement was signed, Iberia has announced today the finalized acquisition of Air Europa. In November 2019, IAG, the parent company of Iberia, closed the purchase of Air Europa to create a great Spanish super-carrier, all while transforming Madrid Barajas Airport in one…
It has been a complicated week for Madrid Barajas Airport in Spain due to the snowstorm "Filomena" that hit the Spanish capital last weekend. On Friday 8 the snow began to fall in Madrid as it has not done it years, in the first hours of the storm Madrid Barajas…
In the summer of 2021 a new airline will be taking to the Spanish skies. Last week, World2Meet presented the image of its new carrier. World2Fly will be the next step of the Iberostar group to connect Spain and the Caribbean. Like many of its rivals, this tour operator seeks…
International Airlines Group (IAG) — the parent company of British Airways, Aer Lingus and Iberia, among other carriers — seems to be looking to reduce the price it would pay to acquire Spanish carrier Air Europa, below the value of 1 billion euros ($1.18 billion) at which both carriers had…
The main Paraguayan international airport, Silvio Pettirossi located in Asunción, resumed its commercial activities on Oct. 21, which were suspended since March 24. The Guaraní airport, located in the city of Minga Guazú, Alto Paraná, also restarted its operations. The official resumption of the commercial routes took place during a…
Qatar Airways joins Air New Zealand and Emirates in announcing that it will halt flights to Argentina. The three airlines confirmed that operations will not be resumed to the South American country even after the restrictions for commercial flights ends. On April 24 earlier this year Air New Zealand was…
Uruguay's Minister of Tourism, Germán Cardoso, announced on Tuesday that Uruguay will reopen borders for tourism to European Union citizens. This decision was made after the resumption operations between Madrid and Montevideo in July have worked positively. According to Hosteltur, Uruguay's borders were opened to its citizens residing abroad, foreigners…
IAG announced the purchase of Air Europa for a value of one billion euros. The holding company of Iberia, British Airways, Aer Lingus, Vueling, and Level said that the operation "offers significant potential synergies in terms of costs and revenues." IAG informed that the acquisition should be completed in the…
Air Europa applied last Friday to operate domestic flights within Brazil. The move is a direct result of new laws in Brazil allowing foreign airlines 100 percent ownership of Brazilian airlines, whereas foreign ownership was previously limited to 25 percent. Brazil's congress approved last Wednesday the new law, which included…
