Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksInternational Airlines Share News (IAG)

Share Price Information for International Airlines (IAG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 172.00
Bid: 171.90
Ask: 172.00
Change: 0.00 (0.00%)
Spread: 0.10 (0.058%)
Open: 171.55
High: 173.20
Low: 170.40
Prev. Close: 172.00
IAG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Reduced to meeting online, airlines vow to keep fighting

Wed, 25th Nov 2020 17:28

* Airlines vent anger at COVID-era online gathering

* New IATA boss pledges tougher line with governments

* Despite vaccines, huge hurdles remain

By Laurence Frost

PARIS, Nov 25 (Reuters) - For an industry that prides itself
on bringing people together, it was a particular humiliation for
airlines to have to resort to video conferencing for their
annual industry meeting this week - and not one they are ready
to repeat.

Brought to their knees by the COVID-19 pandemic and
struggling to convince governments to replace quarantines with
testing, airlines turned to veteran IAG boss Willie
Walsh to lead industry association IATA from next April.

"My style will be different from what has gone before me,"
said Walsh, known to British Airways unions as something of a
bruiser, as he thanked outgoing IATA chief Alexandre de Juniac.

"I too am a businessman and I too understand how governments
operate, but I'm even more unhappy and more critical of how they
get things done (and) how they've failed to get things done."

Without a doubt, this will be Walsh's biggest challenge yet.

In three days of media briefings around the meeting, IATA
further downgraded its financial outlook for the sector as a
second wave of coronavirus cases in Europe and the United States
points to more heavy losses and bankruptcies.

That may test Walsh's aversion to bailouts and subsidies.
Little was said about further aid at the meeting, which ended on
Wednesday, though de Juniac called days earlier for $80 billion
in support on top of the $160 billion received.

Despite vaccines promising eventual relief, executives worry
they might reduce the immediate pressure on policymakers to
reopen travel safely.

In the short term, meanwhile, they are having to roll out
apps designed to manage health certificates and the broader
chaos.

Governments may also use air travel to encourage vaccine
uptake - drawing airlines into a political minefield.
Australia's Qantas said it expected to require all
passengers to show vaccination certificates.

"We know in some countries we have some difficulties to
convince the population to be vaccinated," de Juniac told
Reuters before the meeting - warning that any general
requirement could effectively bar people from travel.

For airlines that survive COVID-19, intense environmental
pressures still lie in wait, as several executives observed;
"flight-shaming" has not gone away.

In Europe, the industry is battling new green taxes and
regulation while facing higher investment demands for cleaner
aircraft and fuel technology development.

Bailouts and borrowing have swollen global airlines' debt by
more than half to $651 billion, IATA Chief Economist Brian
Pearce said - a mountain that will undermine their ability to
fund more efficient new aircraft, let alone green innovation.

Underlining the financial strain, Norwegian Air
became the latest crisis casualty when it filed for Irish
bankruptcy protection days before the meeting.

"Airlines are setting themselves up for horrendous balance
sheet structures," said James Halstead, managing partner at
consulting firm Aviation Strategy, who believes airlines will
continue to struggle to influence policy.

"The people in the driving seat are health authorities -
it's a massive health crisis, so they don't want people moving
around," Haltead said. "The feeling is that aviation can be
tackled later."
(Reporting by Laurence Frost; additional reporting by Tim
Hepher; Editing by Mark Potter)

More News
11 Apr 2024 15:56

London close: Stocks finish lower as ECB stands pat

(Sharecast News) - London's stock markets finished in negative territory on Thursday, as investors reacted to the European Central Bank's latest policy announcement and a producer price index release in the United States.

Read more
10 Apr 2024 14:46

Portugal's new government vows to keep balanced budgets, privatise TAP

LISBON, April 10 (Reuters) - Portugal's new minority government will maintain balanced budgets, keep reducing the country's public debt and carry out a long-planned privatisation of flag carrier TAP, it said in its inaugural legislative programme on Wednesday.

Read more
8 Apr 2024 17:03

LONDON MARKET CLOSE: Miners and airlines in demand as FTSE 100 climbs

(Alliance News) - Investors bought in London on Monday, as the FTSE 100 rose with gold hitting a new high before fading, airlines and miners were in demand, while Entain prospered on bid speculation.

Read more
6 Apr 2024 18:59

Two planes at Heathrow Airport collide on the ground

LONDON, April 6 (Reuters) - The wingtip of an empty Virgin Atlantic jet collided with a stationary British Airways airliner while being towed from a stand at London's Heathrow Airport on Saturday, the airlines said.

Read more
5 Apr 2024 19:38

UK Border Force officers suspend Heathrow Airport strike action plan

LONDON, April 5 (Reuters) - UK Border Force officers at Heathrow Airport, Britain's busiest hub, have suspended the strike action they were due to take for four days from April 11 in a dispute over working conditions, a trade union said on Friday.

Read more
5 Apr 2024 15:22

London close: Stocks finish lower as US payrolls top forecasts

(Sharecast News) - London markets closed lower on Friday amid a backdrop of heightened investor caution, following robust US job data for March, hawkish remarks from Federal Reserve officials, and escalating tensions in the Middle East.

Read more
28 Mar 2024 16:49

UK Border Force officers at Heathrow airport to take strike action

LONDON, March 28 (Reuters) - More than 600 UK Border Force officers at Heathrow Airport, Britain's busiest hub, will take strike action for four days from April 11 in a dispute over working conditions, the PCS trade union said on Thursday.

Read more
27 Mar 2024 10:28

JPMorgan puts IAG on 'positive catalyst watch' ahead of Q1 results

(Sharecast News) - JPMorgan Cazenove placed shares of BA and Iberia owner IAG on 'positive catalyst watch' on Wednesday ahead of first-quarter results and following minor changes to estimates published yesterday.

Read more
27 Mar 2024 09:40

LONDON BROKER RATINGS: Sainsbury's, Petershill Partners upped to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
21 Mar 2024 16:33

London close: Stocks rise as BoE keeps rates on hold

(Sharecast News) - London markets closed higher on Thursday, sustaining gains after the Bank of England adhered to expectations by maintaining interest rates at a 16-year high.

Read more
21 Mar 2024 09:27

LONDON BROKER RATINGS: UBS cuts Entain; RBC raises IAG

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

Read more
21 Mar 2024 09:09

RBC Capital upgrades IAG to 'outperform'

(Sharecast News) - RBC Capital Markets upgraded BA and Iberia owner IAG on Thursday to 'outperform' from 'sector perform' and lifted the price target to 220p from 200p.

Read more
21 Mar 2024 07:52

LONDON BRIEFING: Stocks called up thanks to New York rally

(Alliance News) - Stocks in London are to open higher on Thursday, after a global equity market rally following the latest interest rate call from the US Federal Reserve.

Read more
15 Mar 2024 15:07

London close: Stocks finish mixed after Reckitt compo blow

(Sharecast News) - London's equity markets finished in a mixed state at the end of a quiet trading session on Friday, after another hotter-than-expected US inflation reading overnight.

Read more
6 Mar 2024 15:02

London close: Stocks finish higher after Hunt's Spring Budget

(Sharecast News) - London's stock markets closed in positive territory on Wednesday, as investors absorbed the Chancellor's Spring Budget announcement of a 2p reduction in National Insurance.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.