International Airlines Group allows airlines to expand their global presence and keep individual brands
International Consolidated Airlines Group, S.A., often shortened to IAG, is an Anglo-Spanish multinational airline holding company with its registered office in Madrid, Spain, and its operational headquarters in London, England. It was formed in January 2011 after a merger agreement between British Airways and Iberia, the flag carriers of the UK and Spain, respectively. As British Airways was the larger company, those holding shares in British Airways at the time of the merger were given 55% of the shares in the new, merged company. British Airways and Iberia ceased to be independent companies and instead became 100% owned subsidiaries of IAG. The company is listed on the London Stock Exchange and the Madrid Stock Exchange. It is a constituent of the FTSE 100 Index and IBEX 35 Index.
In their announcement, IAG mentioned that Air Europa currently has 52 aircraft at their disposal, which is16 fewer than the day the deal was initially made.
British Airways announced a major leadership shakeup as an effort for the airline carrier to stay productive beyond the COVID-19 pandemic.
With new cash injection in a deal with American Express, British Airways owner IAG hopes to stay afloat after a serious hit due to the coronavirus lockdown.