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By Bill Goldston |
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September 29, 2010
- Iberia Airlines appoints its chairman, Antonio Vazquez Romero as the
new chairman of International Airlines Group (IAG), this new company
formed under the merger agreement between
When the deal is
completed Iberia Airline investors will have a 44 percent stake in IAG
and British Airways investors will 56 percent. Iberia Airlines is a flag
carrier airline of |
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In addition to transporting passengers and freight, Iberia Group carries out related activities, such as aircraft maintenance, handling in airports, IT systems and in-flight catering. Iberia Group airlines fly to over 102 destinations in 39 countries. Via code-sharing arrangements with other companies, it offers flights to another 90 destinations.
Willie Walsh,
Managing Director IAG, announced in Mumbai that the newly merged group
would look to acquire other airlines, particularly those in emerging
markets. He also stated that a shortlist of 12 possible carriers that
would potentially be included in the new group has been created.
IAG will be the
third largest airline holding company in the world by revenue, with 419
aircraft transporting passengers between 200 destinations. The new
company will carry over 62 million passengers per year, according to
British Airways executives. Both airlines will, however, continue to
operate under their current brand names.
International
Airlines Group will have its operational headquarters in |