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
You may also be interested in the following articles...
IAG and Heathrow: airport decision welcome, but possible charges issues. Options at other IAG hubs
On 25-Oct-2016 the UK government announced its support for a new runway at London Heathrow Airport. There is still a lengthy set of processes to be observed before a new runway at Heathrow can finally be built. Moreover, opponents are likely to fight a fierce battle to try to prevent it. Even Heathrow Airport does not expect the runway to open before 2025. 2030 is more likely.
Airlines at Heathrow, led by British Airways and its parent IAG, have given a muted welcome to the UK government's decision. However, they are very clear that they do not wish to see airport charges increase as a result. IAG in particular has long been adamant that it will not pay for the expansion through tariff increases at Heathrow. The airport is among the most expensive in the world and its aeronautical yield rose 2.5 times from 2007 to 2014.
The UK government has set its aim on keeping landing charges close to current levels. Heathrow CEO John Holland-Kaye said that the expansion would provide an airport that is fair and affordable; but history suggests that the airport and its leading airline may define these terms differently. However, as this report demonstrates, IAG has other hubs and other airlines that give it alternative growth options.
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.