Spain's Bankia stated (26-Jun-2013) it its 12.09% stake in International Airlines Group (IAG) up for sale, as intended as part of its 2012-2015 Strategic Plan which calls for the divestiture of "non-strategic assets". Bankia mandated Bank of America Merrill Lynch and Bankia Bolsa to handle the sale. As previously reported by CAPA, IAG chairman Antonio Velazquez previously said the Group was comfortable with Bankia's participation and would also be comfortable if the firm decided to divest its stake. [more - original PR - Spanish]
Bankia puts its 12.09% stake in IAG up for sale
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London airports and a new runway: Heathrow the business champion but the biggest growth is elsewhere
As the British government approaches a final decision on the construction of an additional runway in southeast England it is pertinent to look at how passenger traffic is developing at the two main airports that are in contention – Heathrow and Gatwick, and at the next two largest London area airports, Stansted and Luton.
While Luton stepped back from the runway debate (its ‘proposal’ was submitted by a third party), the management at Stansted Airport (M.A.G), having been knocked back by the Airport Commission’s report, has found renewed vigour as the scope of the objections to both Heathrow and Gatwick expansion became clear. Indeed, the suggestion that the government might decide to let airports compete, rather than itself funnel resources into one location, has inspired M.A.G. to revisit its own ambitions for Stansted.
That is assuming of course that a decision is ever reached, as, unbelievably, it has been postponed yet again while the Prime Minister, Mrs May, ensures that a Cabinet transport sub-committee that is known to be divided on the issue has a good debate about it. Then, having made a recommendation, MPs - also divided - will have another year to argue over it and - perhaps - fail to reach a consensus.