IAG

European airlines Air France-KLM, International Airlines Group (IAG) and Lufthansa are all seeking a greater foothold in Latin America, with potential acquisitions in the region being eyed. Air France-KLM has set its sights on TAP Air Portugal, while IAG has plans to buy Spain's Air Europa and Lufthansa looks close to making a deal with ITA Airways of Italy. Each deal, if successful, would boost the respective groups' share of the lucrative Europe-Latin America market, which is rebounding strongly following the Covid-19 pandemic. Such deals would put Air France-KLM and TAP on a 29% share of Europe-Latin America capacity, while...

Two readers of The Guardian explain how Spanish airline Vueling cancelled their flights and refused to compensate them under EU rules. The airline also repeatedly ignored requests for a refund from the readers, leading to frustration. Coby Benson, an airline compensation expert, said Vueling should have either provided a full refund or a free replacement flight within seven days of the cancellation. However, the company's failure to engage with customers seeking compensation has become typical, says Benson. Due to the absence of an address in England, bottlenecks in legal processes are being created. Read further.

London stocks rose in early trade on Friday after suffering heavy losses in the previous session. The positive sentiment was partly driven by better-than-expected results from Apple, and boosted by a positive outcome from British Airways owner IAG, which lifted its full-year earnings forecast. Attention was focused on the latest US non-farm payrolls report, due later in the day, with analysts suggesting a strong result might keep alive the possibility of another interest rate hike in June. Investors were also digesting data from China on the Caixin services purchasing managers’ index, which dipped to 56.4, coming in below consensus expectations,...

Despite predictions during the pandemic that business travel would never return to pre-COVID levels due to the rise of virtual meetings, executives are quick to abandon video calls and get back on the road. Corporate travel demand and revenue in the United States has already returned to pre-pandemic levels, while UK-based airlines have seen corporate bookings return to 70% with aims to reach 85% by the end of 2021. Emissions from travel can form a significant part of companies’ emissions, leading to a crackdown in parts of the corporate world, but airlines are combating this through offering sustainable fuels or...

London stocks rose at the start of the trading day on Friday following losses from the previous day. Investors have their eyes on the latest US non-farm payrolls report, and initial upbeat results from British Airways owner, IAG, have lifted the mood. Better-than-expected results from Apple have also boosted sentiment. The payrolls report is due at 1330 BST, along with the unemployment rate and average earnings. Investors are digesting the latest data out of China, which revealed that growth in the services sector was a little weaker than expected in April. The Caixin services purchasing managers' index came in below...

International Airlines Group's (IAG) Spanish airline Iberia has named Fernando Candela as its new acting CEO, replacing Javier Sanchez-Prieto. Candela, who has been the CEO of IAG's low-cost airline brand LEVEL since 2019 and was previously the CEO of budget Iberia Express, will lead the company until the end of the year, focusing on completing the purchase of Air Europa and addressing the repayment of debt accumulated during the pandemic. In February, IAG agreed to buy the remaining 80% of Air Europa it did not already own for €400m, pending regulatory approval from Brussels. Sanchez-Prieto is leaving of his own...

The International Airlines Group (IAG) has reported a Q1 profit for the first time since 2019, with revenue totalling £5.8bn ($7.4bn), up 71.4% from last year. The airline group had an operating profit of £9m before exceptional items. Cargo revenue was £323m, a 25.2% decrease YoY, due to tightening global financial conditions, high levels of debt and supply chain issues. IAG carried 24.27 million passengers in the quarter, up 68.9% YoY, with a net loss of £87m after tax. Iberia performed the best among IAG airlines, with strong business demand and growth in the Spain-Latin American market. British Airways recorded its...

United Airlines has launched seven new seasonal routes to Europe on May 5th, 2018, connecting the United States to several countries like Croatia, Iceland, Portugal and Switzerland. The airline will operate flights to destinations like Edinburgh, Scotland, Germany, Portugal, and Switzerland to enhance the experience of its frequent fliers in the summer season. It is a significant move by United Airlines, considering the rise in European travel in recent years. United Airlines has continually invested in its route network around the world, and the carrier is aiming to provide passengers with expanded services to handle increasing demand. The airline has...

Aer Lingus is experiencing a drop in demand for short-haul business routes, particularly between Ireland and Britain, according to chief executive Lynne Embleton. However, the airline is seeing strong demand for short-haul leisure, especially to the Mediterranean, as well as good demand to the US and the Caribbean. Embleton said that travel has recovered from the Covid-19 crisis and that high rates of travel would not be a flash in the pan, but could not promise that customers would not see higher air fares this summer. IAG, which owns Aer Lingus, British Airways and Spain’s Iberia and Vueling, reported an operating profit...