U.S. Markets closed

[$$] Why Airlines Are Rebuilding the Conglomerate

The conglomerate, usually considered a corporate dinosaur, is finding a surprising new lease of life in the airline industry. International Consolidated Airlines Group has become Europe’s model for airline mergers since Chief Executive Willie Walsh formed a holding company to manage the combination of British Airways and Spanish flagcarrier Iberia eight years ago. IAG, which has since acquired Vueling and Aer Lingus, in addition to launching the startup brand Level, reported better-than-expected earnings last week despite worries about the European economy, higher fuel costs and excessive growth in flights.