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BA-Iberia shares rise on first day, Aeroflot falls on bomb blast

Analysis

Shares in International Consolidated Airline Group SA (IAG) the new company controlling British Airways and Iberia began trading yesterday in Europe. The shares opened at GBP2.82 in London and EUR3.25 in Spain and closed up 0.9%.

Summary
  • International Consolidated Airline Group (IAG) begins trading in Europe, controlling British Airways and Iberia.
  • IAG CEO Willie Walsh expresses interest in adding more airlines to the group.
  • IAG shares open at GBP2.82 in London and EUR3.25 in Spain, closing up 0.9%.
  • Aeroflot's shares decline following the bomb blast at Moscow Domodedovo Airport.
  • IAG aims to create a multinational multi-brand airline group.
  • IAG CEO indicates interest in approximately 12 airlines globally.

IAG CEO Willie Walsh stated: "British Airways and Iberia are the first two airlines in IAG, but they won't be the last. Our goal is for more airlines but, importantly, the right airlines to join the group. Today is the first step towards creating a multinational multi-brand airline group." Mr Walsh has previously indicated he is interested in around 12 airlines globally.

Meanwhile, Aeroflot's shares fell in line with the 1.9% decline in the 30-stock Micex Index in the wake of the bomb blast at Moscow Domodedovo Airport.

Selected European airlines daily share price movements (% change): 24-Jan-2011

EAD

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