Roundtable Discussion; The Future of Mineral Sands. 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: 178.65
Bid: 178.70
Ask: 178.80
Change: 0.00 (0.00%)
Spread: 0.10 (0.056%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 178.65
IAG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-Forty of 46 grounded South African planes back in air

Thu, 24th Oct 2019 09:53

* State airline SAA in crisis

* Regulator found faults at maintenance unit

* SAA, Mango, Comair grounded 46 planes for checks

* Regulator accepts SAA Technical's recovery plan
(Adds SAA comment, detail, context)

By Alexander Winning

JOHANNESBURG, Oct 24 (Reuters) - Forty of the 46 airplanes
grounded this week owing to faults found at the maintenance unit
of state-owned South African Airways (SAA) have been returned to
service, the head of South Africa's aviation regulator said on
Thursday.

The faults found at SAA Technical have focused attention on
the crisis at SAA, which hasn't made an annual profit since 2011
or published financial results since 2017 because of question
marks over its long-term viability as a business.

SAA has floundered with an unprofitable route network and a
fleet of ageing and inefficient airplanes.

South African Civil Aviation Authority (SACAA) Chief
Executive Poppy Khoza told a news conference the regulator had
made five findings during an audit at SAA Technical, after which
it issued a prohibition order stopping some aircraft from
flying.

As of Wednesday evening more than 80% of SAA's affected
aircraft were back in service, however, SAA spokesman Tlali
Tlali told Reuters.

The audit made two serious findings: that inadequately
qualified personnel had signed off on maintenance work and that
maintenance checks on flight data recorders and cockpit voice
recorders had not been done correctly, Khoza said.

Other findings included SAA Technical's failure to implement
previous findings and lapses in its quality management system.

The SACAA has since accepted a "corrective action plan" from
SAA Technical, which maintains aircraft for SAA, its subsidiary
Mango Airlines and British Airways franchise partner Comair
, which also operates under the kulula.com brand.

Twenty-five SAA planes had been grounded this week, 14
Comair planes and seven Mango Airlines planes, Khoza said.

That led to domestic flight cancellations and delays on
Tuesday. Disruptions had eased by Wednesday.

SACAA chairman Ernest Khosa said South Africans were safe in
the skies after the intervention by the regulator.

A lack of clarity earlier in the week over the faults at SAA
Technical had led to speculation that authorities were covering
up major infringements.

Tlali said it was too early to quantify the financial impact
from the grounding of its planes, dismissing an allegation that
the faults were linked to SAA's perilous financial position.

"None of the audit findings made at SAA Technical can
reasonably be associated with the state of finances we are
experiencing at the moment," Tlali said. "No case has been made
to support this claim because none exists."
(Reporting by Alexander Winning
Editing by Tim Cocks and Alexandra Hudson)

More News
28 Nov 2023 16:54

LONDON MARKET CLOSE: European stocks perk up but end day mixed

(Alliance News) - European equities closed off session lows during a mixed day on Tuesday, while stocks in New York went into the afternoon in the green, as comments from Federal Reserve officials cemented expectations that the US central bank has already enacted its last hike of the cycle.

Read more
22 Nov 2023 14:41

Aurrigo inks USD290,000 deal with IAG for Cincinnati airport in US

(Alliance News) - Aurrigo International PLC on Wednesday said that it has signed an agreement with International Consolidated Airlines Group SA for the deployment and demonstration of its autonomous aviation solutions.

Read more
21 Nov 2023 15:19

London close: Stocks slip ahead of FOMC minutes, Autumn Statement

(Sharecast News) - London stocks finished in the red on Tuesday as investors examined the latest UK borrowing data ahead of Wednesday's Autumn Statement.

Read more
21 Nov 2023 09:57

IN BRIEF: International Consolidated Airlines seeks to restore payouts

International Consolidated Airlines Group SA - Madrid-based owner of British Airways, Iberia, Vueling and Aer Lingus - Hosts capital markets day for institutional investors and analysts on Tuesday, saying its 2023 outlook remains unchanged. "We expect 2023 to be a year of strong recovery in our margins, operating profit and balance sheet and towards pre-Covid-19 levels of capacity," the company had said with its third-quarter results back in October.

Read more
21 Nov 2023 09:20

IAG reiterates commitment to resuming dividends

(Sharecast News) - British Airways owner IAG on Tuesday set out its medium-term targets and pledged its commitment to resume paying dividends once its balance sheet and investment plans are "secure".

Read more
17 Nov 2023 13:59

British Airways' green fuel project wins UK government backing

(Alliance News) - A partnership involving International Consolidated Airlines Group SA's British Airways to develop lower carbon aviation fuels has secured a share of new UK government funding.

Read more
15 Nov 2023 09:41

LONDON BROKER RATINGS: Deutsche likes Compass; Numis cuts Elementis

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

Read more
6 Nov 2023 16:59

LONDON MARKET CLOSE: Stocks fail to shine despite dovish sentiment

(Alliance News) - Stock prices in London closed mixed on Monday, whilst US markets opened higher, with investors continuing to digest hopes that interest rates have peaked.

Read more
6 Nov 2023 12:04

LONDON MARKET MIDDAY: Tepid start to new week as investors take stock

(Alliance News) - London's FTSE 100 drifted marginally lower heading into Monday afternoon in uncertain trade as investors reassess the near-term outlook for equity markets after a bullish week for stocks last week.

Read more
30 Oct 2023 09:40

LONDON BROKER RATINGS: Jefferies cuts NatWest to underperform from buy

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

Read more
27 Oct 2023 17:08

LONDON MARKET CLOSE: Poorly-received earnings weigh on European stocks

(Alliance News) - Stock prices in London closed mixed on Friday, hurt by share price falls for the banking sector, while investors also digested underwhelming earnings elsewhere and a US inflationary reading.

Read more
27 Oct 2023 12:06

LONDON MARKET MIDDAY: Oil majors lift FTSE 100 but banks fall

(Alliance News) - Stock prices in London were up at midday on Friday, as the FTSE 100 was led higher by oil majors, tracking a rise in the Brent price.

Read more
27 Oct 2023 09:18

TOP NEWS: BA-owner IAG has "record" quarter despite air traffic snafu

(Alliance News) - International Consolidated Airlines Group SA on Friday hailed a "record third-quarter performance" that provided money for investment and debt reduction.

Read more
27 Oct 2023 07:54

LONDON BRIEFING: NatWest notes "serious failings" in Farage findings

(Alliance News) - Stocks in London are set to open slightly higher on Friday, as investors wait for a key US inflation reading.

Read more
27 Oct 2023 07:07

IAG reports record third quarter as demand continues to recover

(Sharecast News) - British Airways owner IAG reported a record-breaking third-quarter operating profit of €1.745bn on Friday, marking a substantial increase from the €1.216bn reported in the same period of 2022.

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.