International Airlines Group
 |
|
| Sociedad Anónima | |
| Traded as |
BMAD: IAG : |
| Founded | 21 January 2011 |
| Founder | Iberia L.A.E. and British Airways |
| Headquarters | |
|
Area served
|
Worldwide |
|
Key people
|
|
| Services |
|
| Revenue | £18.27 billion (2015) |
| €2,335 million (2015) | |
| Profit | €1,516 million (2015) |
|
Number of employees
|
60,862 (2015) |
| Subsidiaries |
|
| Website | www |
International Consolidated Airlines Group, S.A., often shortened to IAG, is a British-Spanish multinational airline holding company with its operational headquarters in London, England, United Kingdom and registered in Madrid, Spain. It was formed in January 2011 by the merger of British Airways and Iberia, the flag carrier airlines of the United Kingdom and Spain respectively with British Airways holding 55% of the newly formed company. It is the sixth-largest airline company in the world, producing £18.27 billion revenue in 2015. The company is listed on the and the Madrid Stock Exchange. It is a constituent of the FTSE 100 Index and IBEX 35 Index.
British Airways and Iberia signed a preliminary merger agreement in November 2009. In April 2010, British Airways and Iberia signed a full merger agreement, with an intended completion date of late 2010, subject to securing the necessary regulatory approvals. The merger between British Airways and Iberia was completed on 21 January 2011, and shares in the new holding company IAG and began trading in London and Madrid on 24 January.
In March 2011, IAG agreed to purchase eight Airbus A330-300 aircraft and to take options on eight more, to be used for Iberia's longhaul fleet. On 6 October 2011, IAG created Iberia Express, a new low-cost airline to operate short- and medium-haul routes from IAG's Madrid hub and provide transfer feed onto Iberia's longhaul network. Iberia Express began operations on 25 March 2012.
On 4 November 2011, IAG agreed in principle to acquire British Midland International (BMI) from Lufthansa for an undisclosed sum, in a deal which would increase IAG's share of slots at Heathrow airport from 45% to 54%. On 22 December 2011, IAG agreed a binding deal with Lufthansa to acquire BMI for £172.5 million. On 30 March 2012, the purchase of BMI was approved, subject to the condition that the combined group divest itself of 12 daily slots and lease two daily slots at Heathrow airport. The acquisition was completed on 20 April 2012, and the BMI fleet and routes were integrated into the British Airways schedule throughout 2012.
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