International Airlines Group (IAG), the parent company of British Airways, has announced a first-quarter (Q1) loss for 2020 of €535 million ($579 million). This compares with an operating profit of €135 million ($146 million) for the same period last year. Unsurprisingly the novel coronavirus (COVID-19) impacted the consortium’s operations for the period resulting in a 10.5% reduction in capacity from Q1 2019. Significant losses on fuel hedging derivatives and foreign exchange transactions were also cited as contributing factors to the…
British Airways has announced that it might cut up to 12,000 jobs from its 45,000 employee workforce, as the global coronavirus pandemic is having unprecedented consequences for airlines as the skies are emptied out for a prolonged period of time. The airline had previously agreed to furlough 22,000 jobs, taking…
The U.K. government has supported action by European authorities to allow airlines to defer the payment of charges for air navigation services. This will include charges for both the U.K. and European airspace being deferred for up to 14 months for the period between February to May 2020. According to…
Qatar Airways has increased its stake in International Airlines Group (IAG) from 21.4 percent to 25.1 percent with a $600m buy-up. The move comes a little over a week after Air Italy which Qatar Airways had a 49 percent stake in ceased operations. In announcing the increased shareholding Qatar Airways…
International Airlines Group (IAG) announced Thursday that chief executive officer Willie Walsh will step down from his current role and the board of IAG on March 26 and will formally retire on June 30. The chairman of IAG Antonio Vázquez praised Walsh’s achievements at the multi-national airline holding company which…
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…
While Boeing 737 MAX operators around the world are pushing back its re-entry into service towards the end of the year, International Airines Group (IAG), the parent company of British Airways, Iberia and European low-cost carriers Vueling and Level, is strengthening commitment towards the troubled Boeing narrow body. Having recently…
While Boeing 737 MAX operators around the world are pushing back its re-entry into service towards the end of the year, International Airines Group (IAG), the parent company of British Airways, Iberia and European low-cost carriers Vueling and Level, is strengthening commitment towards the troubled Boeing narrow body. Having recently…
British Airways has begun commercial services with their brand new Airbus A350-1000 aircraft. The inaugural flight took off on Monday from London Heathrow Airport bound for Madrid. The aircraft will initially operate twice a day on the Heathrow to Madrid route for crew training and familiarization. The airplane, registered as…
British Airways has begun commercial services with their brand new Airbus A350-1000 aircraft. The inaugural flight took off on Monday from London Heathrow Airport bound for Madrid. The aircraft will initially operate twice a day on the Heathrow to Madrid route for crew training and familiarization. The airplane, registered as…
