International Consolidated Airlines Group SA (ICAG.L) Key Developments | Reuters.com
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International Consolidated Airlines Group SA (ICAG.L)

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Latest Key Developments (Source: Significant Developments)

IAG says vote to leave EU will not have a long term material impact on its business
Friday, 24 Jun 2016 04:52am EDT 

International Consolidated Airlines Group SA : Believes that vote to leave European Union will not have a long term material impact on its business . Continues to expect a significant increase in operating profit this year . No longer expects to generate an absolute operating profit increase similar to 2015 .In short term, however, in run up to UK referendum during June, IAG experienced a weaker than expected trading environment.  Full Article

IAG names Patrick Cescau as senior independent director
Thursday, 16 Jun 2016 08:53am EDT 

International Consolidated Airlines Group SA :Appointment of Patrick Cescau as new senior independent director..  Full Article

IAG does not expect material impact on its business from Brexit
Thursday, 16 Jun 2016 06:43am EDT 

International Consolidated Airlines Group SA CEO Willie Walsh: Says the company does not expect a material impact on its business from Brexit . Says: "We have undertaken a risk assessment and, at this stage, have concluded that should Britain vote to leave the EU, this will not have a material impact on our business." Further company coverage: [ICAG.L] (Reporting by Madrid Newsroom) ((madrid.newsroom@thomsonreuters.com; +34915852151;)).  Full Article

IAG says May group traffic up 14.1 pct
Friday, 3 Jun 2016 10:00am EDT 

Intl Con Airline Grp : IAG traffic & capacity statistics - May 2016 . Group traffic in May, measured in revenue passenger kilometres, increased by 14.1 percent versus May 2015 (up 4.4 percent on a pro-forma basis) . Group capacity measured in available seat kilometres rose by 14.1 percent (up 4.5 per cent on a pro-forma basis) .Group premium traffic for month of May increased by 1.4 percent on a pro-forma basis.  Full Article

IAG says April group traffic up 10.9 pct
Friday, 6 May 2016 10:00am EDT 

Intl Con Airline Grp : Group capacity measured in available seat kilometres rose by 10.7 per cent (up 2.6 per cent on a pro-forma basis). . April IAG group traffic and capacity statistics . Group traffic in April, measured in revenue passenger kilometres, increased by 10.9 per cent versus April 2015 .Group premium traffic for month of April increased by 4.4 per cent on a pro-forma basis..  Full Article

International Consolidated Airlines Group SA gives FY 2016 profit guidance
Friday, 29 Apr 2016 02:00am EDT 

International Consolidated Airlines Group SA:Says that in FY 2016, IAG still expects to generate an absolute operating profit increase similar to FY 2015.  Full Article

International Consolidated Airlines Group SA - Spanish airline Iberia preparing new job cuts -chairman - Reuters News
Monday, 14 Mar 2016 06:30am EDT 

International Consolidated Airlines Group SA:Spanish airline Iberia is preparing new job cuts to reduce costs after completing the current redundancy programme, its chairman Luis Gallego said on Monday. - RTRS.Iberia had already reached a deal with unions in 2014 to cut up to 1,427 jobs until the end of 2017.Gallego said there was room for 462 more job losses in the current voluntary redundancy programme, which he hoped to complete this year.After that Iberia will seek a new agreement with the unions for additional voluntary job losses for older employees close to retirement, Gallego said at an event organised by the European Aviation Club in Brussels."We still have an excess of people in some units", he said, but did not give any figures. As of December 2015, Iberia employed 16,564 people.The airline, which is owned by International Airlines Group, ICAG.L, has undergone a major restructuring since its 2011 merger with British Airways, cutting jobs and salaries.  Full Article

International Consolidated Airlines Group SA - EU court backs Air France KLM SA, other airlines in cartel challenge - Reuters
Wednesday, 16 Dec 2015 03:00am EST 

International Consolidated Airlines Group SA:Europe's second highest court backed on Wednesday a challenge by Air France-KLM AIRF.PA and other airlines against a near 800 million-euro ($873.9 million) cartel fine handed down to the group five years ago for fixing prices of air cargo - RTRS."The General Court annulled the decision by which the Commission imposed fines amounting to approximately 790 million euros on several airlines for their participation in a cartel on the air freight market," the General Court said in its ruling. - RTRS.The European Commission in its 2010 decision said that 11 air cargo carriers fixed surcharges for fuel and security from December 1999 to February 2006. - RTRS.The other carriers were Air Canada, KLM, Martinair, British Airways, Cargolux, Cathay Pacific Airways, Japan Airlines, LAN Chile, Qantas, SAS and Singapore Airlines - RTRS.Lufthansa LHAG.DE escaped a sanction because it blew the whistle on the cartel. - RTRS.Air France took the biggest hit with a fine of 182.9 milion euros while KLM came in second at 127.2 million euros. The two carriers merged to form Air France-KLM in 2004 - RTRS.  Full Article

International Consolidated Airlines Group SA - Passengers on BA jet that caught fire in Las Vegas sue Boeing, GE - Reuters
Friday, 27 Nov 2015 11:20am EST 

International Consolidated Airlines Group SA:Passengers on a British Airways plane that caught fire taking off from Las Vegas in September are suing the makers of the plane and its engines in Chicago, their lawyers said on Friday - RTRS.The engine of the Boeing 777 burst into flames, forcing all 170 passengers and crew to escape via emergency slides, after a part of a spool in the high-pressure compressor failed, according to findings from the National Transportation Safety Board (NTSB) - RTRS.Now 65 passengers from the United States, Britain, Northern Ireland, Ireland and Germany are seeking damages from Boeing and engine maker GE for pain, suffering, emotional stress as well as financial losses, law firm Stewarts Law said in a statement - RTRS.James Healy-Pratt, head of aviation and travel law at Stewarts Law, told Reuters the lawsuit did not specify any amount but that if there ended up being 100 claimants, then $100 million "would not be unthinkable" - RTRS.But Stewarts Law and U.S. counsel, the Wisner Law Firm, say that at the time of the accident the Boeing aircraft, equipped with GE engines, was "defective and unreasonably dangerous in a number of important respects" - RTRS.A spokeswoman for Boeing in Germany said the company did not comment on legal litigation matters. A spokesman for GE in the United States said GE could not comment on the lawsuit because it had not seen it yet - RTRS.  Full Article

International Consolidated Airlines Group SA's British Airways passengers, crew escape blazing plane in Las Vegas - Reuters
Tuesday, 8 Sep 2015 08:00pm EDT 

International Consolidated Airlines Group SA:All 172 passengers and crew escaped a fire on a British Airways (BA) plane in Las Vegas on Sept.8 when smoke and flames engulfed the aircraft as it was about to take off for London - Reuters.The fire in one of the plane's two engines sent black smoke into the cabin, forcing the passengers to rush to the front, sparking scenes of panic, one person on board tweeted - Reuters.Several passengers and crew suffered minor injuries and were taken to hospital after all on board the Boeing Co 777 escaped down emergency inflatable slides - Reuters.The Federal Aviation Administration's Pacific Division said the plane's left engine had burst into flames on take-off. BA ICAG.L said the engines were made by General Electric - Reuters.Video and photographs from the scene showed the wide-body jet engulfed in flames and thick black smoke at McCarran International Airport. The plane was carrying 159 passengers and 13 crew members - Reuters.The incident temporarily delayed flights across the western United States - Reuters.  Full Article

BA owner IAG warns on profit after Brexit vote

LONDON, June 24 British Airways owner International Consolidated Airlines Group warned on profit on Friday, blaming a weaker than expected trading environment in the run up to the referendum that saw Britain vote to leave the European Union.