7 MARCH 2011
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IAG (International Airline Group – British Airways and Iberia) has come in for highly critical comments from Flight International, the normally very placid British weekly airline industry magazine.
“Since every airline would like to replace less-efficient with more-efficient aircraft Walsh (Willie Walsh, CEO, IAG) is either engaging in wishful thinking or he sees carriers in such distress that they would welcome his call as an opportunity to turn prized assets into desperately needed cash.” What he is saying is, according to Flight, please sell/lease us your fuel efficient twin in exchange for money and one of Iberia’s 36 fuel thirsty four-engined Airbus A340 that came with the IAG package.
The leader page article notes that IAG’s shares have been in sharp decline since January’s initial public offering and goes on to conclude “For many airlines, selling aircraft to IAG and shrinking, or even getting out may be the alternative to going bust. Good luck Willie.” www.flightglobal.com
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