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IAG 'not bothered' by who acquires Virgin Atlantic; value lies in Heathrow slots

23-Feb-2011 11:21 AM

International Airlines Group (IAG) CEO Willie Walsh stated the company is "not bothered" about a competitor acquiring a stake in Virgin Atlantic Airways (Bloomberg, 22/23-Feb-2011). Air France-KLM and Delta Air Lines have reportedly hired Goldman Sachs Group Inc to assist them in a possible joint bid (Sunday Times, 20-Feb-2011). “They’re competitors already. It’s not as if there’s someone new. It should be interesting to watch", Mr Walsh stated. He also stated that Virgin Atlantic has little value to other airline groups beyond its slots portfolio at London Heathrow Airport (Bloomberg, 23-Feb-2011). Mr Walsh stated the carrier is not interested in acquiring and fixing "broken airlines", adding the group wants to build a portfolio of strong companies.