IAG and the Euro

The owner of British Airways and Iberia, IAG, has rung the alarm bells on its exposure to the Spanish financial problems, announcing contingency plans for a Euro exit by that country.  A team has been set up to study the impact on the business if Europe's fourth largest economy left the single European currency.

IAG said the group meets every two weeks to "scenario plan based on previous shocks to the business" and had drawn up "a Spain Euro exit roadmap project which considers the commercial, administrative, systems and people issues to be addressed" if Spain was forced to leave the Euro zone. www.iairgroup.com

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