Tag Archives: IAG

IAG’s statement on Norwegian

Response to Press Speculation on Norwegian Air Shuttle ASA

International Airlines Group (IAG) notes the recent press speculation that it is considering making an offer for Norwegian Air Shuttle ASA (Norwegian).

IAG considers Norwegian to be an attractive investment and has acquired a 4.61 per cent ownership position in Norwegian (minority investment).

The minority investment is intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer for Norwegian.

IAG confirms that no such discussions have taken place to date, that it has taken no decision to make an offer at this time and that there is no certainty that any such decision will be made.

A further announcement will be made if appropriate.

 

Enrique Dupuy de Lôme

Chief Financial Officer

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IAG to acquire Niki, will be put under Vueling

Transferred to Airberlin on January 12, 2017

International Airlines Group – IAG (London) has announced it will acquire insolvent Niki (Vienna) for €36.5 million ($43.8 Million). IAG became the lone bidder after the Lufthansa Group pulled out of the bidding. The IAG also out bid Niki Lauda who was bidding to take back his former airline. The IAG will pay €20 million ($24 million) for Niki’s assets and provide liquidity of up to €16.5 million to Niki.

The new Niki will become a subsidiary of Vueling and the IAG will employ most of the former Niki employees (around 740). Vueling will now be able to grow its presence in Austria, Germany and Switzerland.

Niki is now likely to adopt the Vueling brand.

Copyright Photo: Niki Luftfahrt (flyNiki.com) (Airberlin) Airbus A320-214 D-ABHF (OE-LEE) (msn 2749) PMI (Javier Rodriguez). Image: 937271.

Niki:

IAG is the last remaining bidder for Niki

Niki-The Spirit of Niki (flyniki.com) Airbus A320-214 OE-LEU (msn 2902) (Airberlin colors) ZRH (Rolf Wallner). Image: 929150.

The International Airlines Group-IAG is the last remaining bidder for insolvent airline Niki (Vienna) according to Reuters. Niki was part of the Airberlin Group.

Copyright Photo: Niki-The Spirit of Niki (flyniki.com) Airbus A320-214 OE-LEU (msn 2902) (Airberlin colors) ZRH (Rolf Wallner). Image: 929150.

Niki aircraft slide show:

SKYCOP urges Monarch Airlines to cover passenger compensations with slot deal money

Monarch Airlines Airbus A321-231 G-OJEG (msn 1015) LGW (SPA). Image: 929961.

SKYCOP issued this statement concerning Monarch Airlines and IAG:

After the biggest UK airline collapse in years just a month ago, the administrator of the bankrupt Monarch Airlines has struck a deal with IAG over slots at Gatwick Airport, valued by experts at over €68 million. The sale has sparked an outrage among the passengers left stranded or without holidays by the airline collapse, majority of who are yet to receive any flight compensation, which according to SKYCOP should total to a whopping €291 million.

After a favorable decision by the court, the administrator of the bust Monarch Airlines, KPMG, has signed a sales deal with International Airlines Group (IAG), owner of the UKs flag carrier British Airways over airport slots at Gatwick International Airport. According to experts, this deal fulfils the long-standing British Airways’ goal of expanding its presence at one of the major European aviation hubs, however, KPMG has not yet reported of where the estimated €68 million will go as far as handling the debts of Monarch Airlines.

According to Giedrius Kolesnikovas, a partner of a law firm Motieka & Audzevicius, the best practice of bankruptcy administration shows that first and foremost, the administrator should settle the debts with airline employees and the deceived passengers, only then switching to the creditors, suppliers, etc.

“The recently signed contract goes to show that the administrator can and is doing everything in its power to gather some capital. The question is whether it will be used wisely – the recent report on the case showed over €533 million debt to unsecured creditors. However, employees and stranded passengers are yet to be compensated for their moral and physical struggle and have been waiting patiently, even though the size of debt totals to millions of euros. Thus if the money won’t go their way, it might spark a large lawsuit, giving even more of a headache to the administrator,” explains G. Kolesnikovas.

Since Monarch Airlines has gone bankrupt, the flight disruption and the compensation process is handled not in accordance to the renowned EU 261 law. If it was, it would mean each and every of the approx. 860 thousand passengers would be entitled to travel compensation reaching up to €600. Nevertheless, flight compensation company SKYCOP has already contacted the administrator as well as UK’s CAA in order to ensure that the IAG deal money goes straight to compensating the passengers.

“According to the administrator, almost 2000 of Monarch Airlines’ redundant employees are due to receive 100% of the money they are owed, which is great. However, hundreds of thousands of passengers have been seemingly pushed aside after they were rescued from abroad by the UK authorities,” says Marius Stonkus, the CEO of flight claim company SKYCOP. “According to our estimates, if the EU law would apply in this case, the passengers would be receiving over €291 million. This would be at least something positive to try and make up for all of the stress, panic and moral struggle these poor travelers have been through.”

The CEO of SKYCOP has also shared that the company is continuously monitoring the situation and is considering the possibility of filling a group lawsuit representing thousands of passengers still without any compensation for flight cancellations.

Copyright Photo: Monarch Airlines Airbus A321-231 G-OJEG (msn 1015) LGW (SPA). Image: 929961.

IAG to launch LEVEL, a new low-cost, long-haul carrier

International Airlines Group (IAG) is launching LEVEL – a new low cost longhaul airline brand that will take to the skies in June 2017 with flights from Barcelona to Los Angeles, San Francisco (Oakland), Buenos Aires and Punta Cana.

LEVEL will fly two new Airbus A330 aircraft branded in its own livery and fitted with 293 economy and 21 premium economy seats. Initially it will be operated by Iberia’s flight and cabin crew and will create up to 250 jobs based in Barcelona.

Barcelona has been chosen as the first European city for the launch of IAG’s new operation but LEVEL will look to expand its flights from other European cities.

Fares start from €99/US$149 one way.

Checked luggage (in addition to a free cabin bag), meals, seat selection and the latest movie releases will be complimentary for customers flying in premium economy. Those travelling in economy can chose what they want to buy based on a menu of choices. All customers will have access to next generation inflight technology with a wide range of onboard entertainment options. High speed internet connectivity will be available with prices starting at €8.99.

LEVEL’s customers will be able to earn and redeem Avios – the loyalty currency for IAG’s airlines. This will give them the opportunity to fly to 380 destinations across the Group’s network.

Willie Walsh, IAG chief executive, said: “LEVEL is an exciting new IAG airline brand which will bring a stylish and modern approach to flying at prices that are even more affordable. It will benefit from having the strength of one of the world’s largest airline groups behind it.

“LEVEL will become IAG’s fifth main airline brand alongside Aer Lingus, British Airways, Iberia and Vueling. It will complement our existing airline portfolio and further diversify our current customer base.

Image: IAG.

IAG converts 15 Airbus A320neo options into firm orders

British Airways A320-200neo (97-Union flag)(Flt)(Airbus)(LRW)

International Airlines Group (IAG) (London) has firmed up options for a further 15 Airbus A320neos. The new type will be operated by British Airways, Aer Lingus, Iberia and Vueling Airlines.

Iberia A320-200neo (13)(Flt)(Airbus)(LRW)

Since its launch in 2010 the A320neo Family has won 60 percent of all new orders for single aisle aircraft with over 100 seats and has been selected by over 75 airlines worldwide.

Aer Lingus A320-200neo (96)(Flt)(LRW)

Images: Airbus.

Vueling.com A320-200neo (04)(Flt)(Airbus)(LRW)

IAG orders 31 Airbus wide body and narrow body airliners

International Airlines Group (IAG) (British Airways, Iberia and Vueling Airlines) (London) has signed a firm order for 31 Airbus aircraft, which includes 11 wide-body aircraft (eight A350-900s, three A330-200s) and 20 A320neos.

IAG logo

 

The A350s and A330s are slated for Iberia’s fleet modernization and to open new long-haul routes, and the A320neos will be allocated to the group’s airlines for fleet replacement.

Iberia (2013) logo

With this latest order for 31 aircraft IAG and its airlines have ordered a total of nearly 450 aircraft from Airbus. IAG’s airlines British Airways, Iberia and Vueling, between them operate nearly every aircraft in Airbus’ product range from the smallest single aisle A318 to the world’s largest wide-body A380.

Copyright Photo: Brian McDonough/AirlinersGallery.com. The new Airbus A330-200s for Iberia will replace the aging Airbus A340-300s and compliment the pictured Airbus A330-300s. Iberia is due to take delivery of its first Airbus A330-200 in December 2015. Iberia’s Airbus A330-302 EC-MAA (msn 1515) approaches the runway at Miami International Airport.

Iberia aircraft slide show: AG Airline Slide Show

AG Prints-6 Sizes