Iberia cancels 122 flights on Friday, 138 on Monday
20th Apr 2012 10:16
The Spanish airline, Iberia, cancelled 122 scheduled flights on Friday as industrial action by its pilots entered its 16th day. The airline, owned by International Airlines Group (IAG) said 58 national and 64 international flights scheduled for Friday have been cancelled, and another 138 flights sc
Read moreLondon open: Stocks rise after Germany Ifo data
20th Apr 2012 08:38
- German Ifo index better than expected - IMI rises strongly after first-quarter update - SuperGroup plummets after profit warning London's blue chip index was trading slightly higher on Friday morning after a better-than-expected reading of Germany sentiment. SuperGroup was a heavy faller on the F
Read moreLondon pre-open: FTSE set for flat start
20th Apr 2012 07:38
City sources predict the FTSE 100 will open down one point from yesterday's close of 5,745 as investors balance yesterday's poor US jobs data with the strong sale of Spanish bonds. Weekly initial unemployment claims fell by 2,000 to 386,000 last week, according to data out yesterday from the US La
Read moreIAG formally completes bmi purchase
20th Apr 2012 07:18
International Airlines Group (IAG) has officially completed the purchase of bmi airlines from Lufthansa. The airline will be integrated into British Airways, with details on how this will be achieved to be announced at the time of IAG's first quarter results announcement, scheduled for May. Consult
Read moreOFT slashes BA's price-fixing fine
19th Apr 2012 08:08
The Office of Fair Trading (OFT) has more than halved the fine it slapped on British Airways back in 2007 for colluding with its rival Virgin Atlantic on fuel surcharges. The OFT had originally fined British Airways, now part of IAG (International Consolidated Airline Group), £121.5m after conducti
Read moreFTSE 100 movers: International Power up on bid price
16th Apr 2012 14:25
Rising higher was utilities firm International Power after French shareholder GDF SUEZ raised its bid from 390p to 418p per share. Investec said today that it does not foresee much regulatory risk to the take-over given that GDF already owns 70 per cent of the company. The financial sector was be
Read moreRyanair warns of higher prices on possible hike to airport fees
16th Apr 2012 13:57
In an email to customers, low-cost airline Ryanair warned that a possible decision to increase airport fees by Spanish airport operator AENA may lead to increased ticket prices, Spanish daily ABC reports. It has already expressed its disapproval of such a decision on previous occasions. AENA is co
Read moreLondon midday: Stocks shrug off euro worries
16th Apr 2012 11:38
- Int'l Power rises strongly after GDF SUEZ bid - Spanish 10-year bond yield above six per cent - Lloyds leads financials lower Despite a sell-off in the heavyweight banking sector and the soaring borrowing costs on Spanish debt, the Footsie had extended gains by lunchtime with International Powe
Read moreSunday newspaper round-up: Tesco, BA, Recession
15th Apr 2012 14:48
Tesco's travails in its core British market will be exposed for all to see this week, with the group's full-year results expected to show dismal trading in the UK. The call from many quarters is that Tesco must get back to basics and sort out Britain at all costs - and pull back from its difficult A
Read moreIberia pilot union asks government to settle dispute
10th Apr 2012 11:17
Pilots at Iberia, the Spanish airline operated by International Airlines Group (IAG), have held their first day of strikes out of the 30 days that have been planned, causes the cancellation of 126 flights. Each day of strikes is calculated to cost the company an average of €3m. Justo Peral, head o
Read moreIAG's traffic rises but Spain still under a cloud
4th Apr 2012 14:39
International Consolidated Airline Group (IAG), which owns the British Airways and Iberia airlines, saw solid year-on-year growth in both premium and non-premium traffic in March. Group traffic measured in Revenue Passenger Kilometres rose by 6.2% versus March 2011, while capacity measured in Avail
Read moreStrikes prompt IAG's Iberia to cancel flights
4th Apr 2012 10:16
Iberia, the Spanish airline operated by International Airlines Group, has revealed that it will cancel hundreds of flights scheduled for next weekend due to industrial action. Some 250 flights scheduled for April 13th and 16th will be called off due to the strike organised by pilot labour union SEP
Read moreLondon close: Stocks soar after ISM data
2nd Apr 2012 16:49
- Chinese, UK, US PMIs beat expectations in March - Eurozone PMI disappoints, jobless rate on the up - Pearson leads the rise on the Footsie, miners also in demand After initially paring gains early on, the Footsie surged in afternoon trade on Monday after some better-than-expected manufacturing d
Read moreLondon midday: Stocks flat after mixed macro data
2nd Apr 2012 11:36
- Chinese, UK PMIs beat expectations in March - Eurozone PMI disappoints, jobless rate on the up - RBS to dish out dosh to preference shareholders London's blue chips pared earlier gains after some gloomy economic data from Europe. Miners were performing well after better-than-expected manufacturin
Read moreIAG receives EC approval for BMI acquisition
2nd Apr 2012 08:49
The European Commission granted International Airlines Group (IAG) the authorisation needed to acquire British Midland Limited (BMI) from Lufthansa, adding that competition concerns were addressed by conditions that were part of the deal. In the coming months, IAG plans to integrate BMI with Britis
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