IAG focussing on operations rather than takeovers
International Airlines Group CEO Willie Walsh has confirmed that the airline group is concentrating more on extracting savings from the British Airways-Iberia deal than expanding through further takeovers. IAG’s structure is aimed at facilitating further consolidation, the company has “no plans to do anything at this stage”.
The only carrier IAG is actively tracking at present is BMI, as it is interested in the carrier's slot portfolio. Mr Walsh dismissed reports that IAG is looking at JetBlue Airways and TAP Air Portugal.
IAG shares were flat in trading yesterday.
Finnair reported the following traffic highlights in May-2011:
- Passenger numbers: 660,300, +12.1% year-on-year;
- Passenger load factor: 69.5%, -1.2 ppts;
- Domestic: 47.5%, -7.8 ppts;
- Europe: 65.1%, +0.7 ppt;
- North America: 75.4%, -2.3 ppts;
- Asia Pacific: 72.8%, -0.5 ppt;
- Cargo volume: 10,671 tonnes, -4.5%;
- Cargo load factor: 68.5%, -9.3 ppts.
Selected European airline share price movements (% change): 07-Jun-2011