Deals
British Airways Parent IAG Keen on Counter-Seasonal Purchase
- Five-year operating margin, ROC and EPS forecasts all raised
- Vueling chief Cruz takes over from Williams at U.K. flagship
This article is for subscribers only.
IAG SA, which has made three airline purchases since its formation from a merger of British Airways and Spain’s Iberia in 2011, said it sees scope for more transactions and is particularly interested in a deal that would reduce its reliance on the northern summer.
“We believe there is further opportunity for consolidation,” Chief Executive Officer Willie Walsh told analysts in London Friday. “We’re not afraid of a turnaround, but we’re not out there looking for broken airlines to acquire.” No talks are underway right now, he said.