CLICK HERE TO VIEW AND ALSO PRINT OUT AS IF YOU WERE IN AN ASPIRE LOUNGE

1 JULY 2013

YOUR WORDS


Readers are invited to add their comments to any story. Click on the article to see and add.

BTN DISTRIBUTION

BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.

Index

Email this Page
Bookmark

The Business Travel News
PO Box 758
Edgware HA8 4QF
United Kingdom
+44 (0)20 8952 8383
info@btnews.co.uk
© 2021 Business Travel News Ltd.

Article from BTNews 1 JULY 2013

IAG who owns it?

Spanish bank Bankia has sold its 12.1% stake in IAG (British Airways, Iberia and Vueling) to institutional investors last Thursday for £580m.  An International Airline Group (IAG) spokeswoman declined to say who had purchased the shares. 

In the last few weeks there has been a number of largish offloading of IAG on the London market, potentially opening a period of shareholder instability for the airline group.  However the shares have continued to hover around the 260p mark, not as high as a peak 280p in May, but well above the 160p of 12 months ago.

Bankia, which was bailed out by the Spanish state last year, has been under pressure to sell its corporate shareholdings, but the disposal of IAG comes at a difficult time with Iberia in crisis mode and major job losses on the way. 

In Spain analysts said that the IAG sale was earlier than anticipated.

"The key is going to be finding out who the real buyer is", BPI analyst Joao Safar said.  Bankia was the largest shareholder.

IAG said last week that Iberia has become unprofitable in all markets, including long haul, and its problems are critical. www.iairgroup.com

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum


No one has commented yet, why don't you start the ball rolling?


Add your comment

First Name
Surname
Email Address
Company (Not obligatory)
Country/City
Comment
- You must be a registered subscriber using the email address entered to submit a comment, or you will be sent a confirmation email before your comment will appear.
- Your comment will be checked before appearing, which may take several working hours.
www.btnews.co.uk