International Airlines Group is one of the world’s largest airline groups, and was formed in 2011. It flies around 105 million passengers a year to over 260 destinations and has more than 500 aircraft. As the parent company of British Airways and Iberia, it’s a major player in the global airline industry.
With a market capitalisation of $13.7 billion as of May 2017, Forbes ranked IAG number 405 in its list of the world’s biggest companies. It was the 6th largest airline company by revenue in the last ranking. Our IAG chart will show you how the stock has been performing.
Willie Walsh, who oversaw the merger of British Airways and Iberia, is chief executive of International Airlines Group and the driving force behind the company. The combative former CEO of Aer Lingus and British Airways first came to prominence during the bitter BA cabin crew dispute of 2010, and he’s often in the news when pay rows break out. His own remuneration package for 2016 was £2.4m. Walsh is also Chairman of the IATA Board of Governors, which gives him added weight in the global airline industry.
Antonio Vázquez Romero is another key figure at IAG – he’s chairman of the board and CEO of Iberia.
International Airlines Group was born out of the merger of British Airways and Iberia, which became 100% owned subsidiaries of IAG when it was formed in January 2011. A number of significant acquisitions followed: in November 2011, IAG agreed to acquire British Midland International from Lufthansa; in April 2013, IAG took control of Spanish low-cost airline Vueling; and in May 2015, the Irish government agreed to sell its stake in Aer Lingus to IAG. All this has increased its footprint in the airline sector.
In recent years International Airlines Group has been making inroads into the low-cost airline segment. In 2017 IAG launched LEVEL, a new low-cost, long-haul airline brand that flies from Barcelona to four transatlantic destinations. It’ll also start flying from Paris in July 2018.
In another development, IAG recently bought major parts of defunct Austrian leisure airline Niki, including 15 aircraft and traffic rights in Düsseldorf, Munich, Vienna, Zürich and Palma de Mallorca. IAG now plans to establish a new Austrian subsidiary of Vueling as a replacement for Niki.
To see the latest ups and downs of the IAG share price, check out Capital.com.
IAG is a Spanish registered company – its board meetings are held in Spain, and it’s domiciled there for tax purposes. But IAG’s corporate head office is in Harmondsworth, London.
The group had over 63,000 employees in 2016. British Airways’ main base is at London’s Heathrow Terminal 5, and together with its codeshare and franchise partners BA flies to more than 70 countries all around the world.
Madrid-based Iberia is the leading airline between Europe and Latin America, and currently serves 124 destinations in 48 countries.
International Airlines Group has a primary listing on the London Stock Exchange and has been a member of the FTSE 100 since January 2011. It has secondary listings on the Madrid, Barcelona, Bilbao and Valencia stock exchanges and has been a constituent of the IBEX 35 index since April 2011. Capital.com has the very latest IAG chart.
Shares and the pound sent mixed signals this morning ahead of a critical Brexit vote in Parliament later today. There are fears that the expected rejection by MPs of the government’s proposed Brexit deal could spark a constitutional crisis.
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