|Bid||645.60 x 123000|
|Ask||646.20 x 327100|
|Day's Range||641.80 - 648.80|
|52 Week Range||547.00 - 727.00|
|Beta (3Y Monthly)||0.44|
|PE Ratio (TTM)||4.04|
|Forward Dividend & Yield||0.26 (3.97%)|
|1y Target Est||N/A|
The Spanish government on Thursday welcomed a provisional European Union deal meant to mitigate the impact of a hard Brexit on airlines. "We have obtained seven months to avoid any problem," Spanish Industry Minister Reyes Maroto said. Spain's national flag carrier Iberia is majority-owned by Britain-based Anglo-Spanish group IAG.
Norwegian Air's shareholders overwhelmingly endorsed on Tuesday the lossmaking airline's plan for a deeply discounted cash call to help bolster its finances, Chairman Bjoern Kise said. Norwegian Air said on Jan. 29 it would raise 3 billion Norwegian crowns ($348 million) in a rights issue, just days after British Airways owner IAG ruled out a bid for the budget carrier. The European airline sector faces overcapacity and high fuel costs, with several operators going out of business, the latest being British-based Flybmi which filed for bankruptcy on Sunday.
Investors in a group led by rail operator Ferrovie dello Stato SpA are evaluating the financial needs of the “new Alitalia” that would emerge after the second bankruptcy process in a decade, said the people, who asked not to be named because the discussions are private. The plan will be discussed with Delta and EasyJet this week and could be finalized by the end of February, they said. The new Alitalia would retain assets from the previous carrier, but debt wouldn’t be carried over, according to the people.
UK-based regional airline Flybmi has become the latest casualty in Europe’s increasingly challenged aviation sector. The carrier said on Saturday night that it had ceased operations and was filing for administration. It operated 17 jets on routes to 25 European cities. Sister airline Loganair, which is also part of Airline Investments Ltd, is unaffected by the […] The post UK Regional Airline Flybmi Collapses and Blames Brexit appeared first on Skift.
, the owner of British Airways, that it would consider UK shareholders as EU investors after Brexit has been described as “totally absurd” by a senior official in Brussels. group said this week that it had put a cap on the number of non-EU investors who can own shares in the event of a no-deal Brexit.
Brussels has rebuffed calls from EU asset managers who want to continue trading dual-listed shares in London after a no-deal Brexit, in an indication of the European Commission’s tough stance on financial services. European regulations stipulate that EU investors must trade dual-listed shares on venues recognised by the EU. In a no-deal Brexit, EU fund managers would have to restrict themselves to trading the dual-listed shares on EU exchanges, where prices are often less competitive.
More than 15 years ago, Air France and KLM merged to become Europe’s largest carrier. But the combined airline, no longer the continent’s biggest, still operates with two fiefdoms, one in Paris, and the other in Amsterdam, keeping it from leveraging the efficiencies shareholders covet. You might blame national pride. KLM, the Dutch airline, has […] The post It’s Time to Let Air France-KLM’s New CEO Take Charge appeared first on Skift.
The British Airways parent, whose units also include Spain’s Iberia and Ireland’s Aer Lingus, has yet to be given firm guidance from U.K. and EU governments on whether its ownership structure will need to be amended in order to remain in compliance after Brexit. IAG has presented a contingency plan to the Spanish authorities that would allow it to meet ownership requirements, Spain’s Minister of Public Works Jose Luis Abalos said on Jan. 31. IAG’s biggest shareholder, Qatar Airways, holds a 21.4 percent stake in the company, according to its website.
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - UK shareholders in IAG, the company ...
IAG, the owner of British Airways and Iberia airlines, said on Monday that it would cap ownership of its shares by non-Europeans at the current 47.5 percent level to maintain its status as a European-owned airline. Britain is due to leave the European Union on March 29 but has yet to seal a withdrawal agreement, posing a potential risk to airlines that do not meet EU rules requiring European carriers to be majority-owned and operated in the bloc. Airlines that will no longer be majority owned by EU nationals once Britain leaves the EU face the threat of losing their right to fly within the bloc after Brexit due to share ownership rules.
IAG, owner of British Airways, has said it will consider UK shareholders as EU investors even after Brexit. The company announced Monday evening that it had put a cap on the number of non-EU investors who can own its shares.
with Rolls-Royce engines, in a sign of how the issue is affecting the world’s airlines. BA is among several airlines, including Virgin Atlantic, ANA and Norwegian Air Shuttle, which have been affected by issues on the Trent 1000 engines that power the 787 Dreamliner.
Thomas Cook Group Plc shares dropped the most in more than two months amid emerging doubts about whether the U.K. tourism company would be able to sell its profitable airline business because of potential hurdles from Britain’s pending exit from the European Union. The stock fell as much as 18 percent, the steepest intraday decline […] The post Thomas Cook Sale of Its Airline Could Be a Brexit Victim appeared first on Skift.
Hong Kong Airlines has also contacted Dubai-based Emirates about opportunities to temporarily transfer some cockpit crew, according to the document. Pilots at the unit of beleaguered HNA Group are Airbus SE-rated, meaning they could be trained to fly the Mideast company’s A380 superjumbos. “The current situation with several airlines in financial difficulty globally leaves Emirates in a good position to be sourcing and selecting good-quality pilots,” the memo says.
John F. Kennedy International Airport’s Terminal 8 will undergo a $344 million overhaul as part of a $13 billion redevelopment of New York City’s main international gateway. The plans, announced Wednesday, solve a piece of a complex puzzle in which the Port Authority of New York and New Jersey, which runs the airport, seeks to redevelop the busy hub while keeping it in operation. The airport served a record 61 million passengers in 2018, up 2.5% from the previous year, according to the Port Authority.
Members of the Oneworld airline alliance met late last week in London to celebrate the 20th anniversary of the partnership and kick off new initiatives for the coming years. But for all of its rapid expansion, the alliance seems hesitant to welcome China Southern, China’s largest carrier, into its ranks. Instead, the alliance seems more […] The post Oneworld Stays Cool on China Southern Joining Alliance appeared first on Skift.
For the past 72 years — all of its existence — South African aviation company Comair has posted a profit, a remarkable run in a fickle industry. Founded in 1946, Comair is the only aviation company listed on the Johannesburg Stock Exchange, the largest exchange in Africa. In 2018, Comair posted record earnings, with profits […] The post The Secret to 72 Years of Profit at South Africa’s Comair appeared first on Skift.
British Airways is refusing to offer pilots and other staff a new three-year salary package, citing an uncertain post-Brexit outlook in proposing a 12-month agreement instead. “We can agree a one-year pay deal,” the IAG SA-owned airline said in a letter to unions obtained by Bloomberg News. “This gives certainty over pay for colleagues in […] The post British Airways Takes Tough Line With Unions Amid Brexit Uncertainty appeared first on Skift.