12 AUGUST 2013

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Article from BTNews 12 AUGUST 2013

IAG officially adds Vueling

Vueling, the Barcelona based Spanish low-cost carrier, has officially become part of IAG.  A new governance structure is being introduced in order to be more in line with the company status as an unlisted company.  As specified in the prospectus submitted to the Spanish stock regulator, CNMV, the seven independent Board members, including the Chairman, will shortly present their resignations.

Vueling starts a new phase of its development with a new Board made up of IAG executives yet to be announced.  It will be more operational and focused on the day-to-day activities of the airline.  The Chairman will be Vueling’s current CEO, Alex Cruz.

"All the growth challenges managed by Vueling – its exemplary evolution towards a profitable growth path – have been achieved thanks to the great contribution and vision of each member of the Board, who have wisely guided the company in the right direction over the last four years", said Alex Cruz.  "I would like to make a special reference to our Chairman who has been a key figure in supporting Vueling in order to achieve this success.  Josep Piqué has always dedicated his strong leadership to support the interests of our shareholders, employees and customers”. www.vueling.com

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