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IAG

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On the 28th of February, International Airlines Group informed that it reported a net loss worth €943 million after battling through restructuring charges from its Spanish division Iberia. In addition, the company is planning to downsize its workforce by 3,800 people at its Iberia division in order to reduce costs.

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It seems as if IAG or International Airlines Group is deliberating whether or not to purchase an American Airlines minority stake in order to increase their commercial bond and make sure that the United States carrier retains its position as a division of Oneworld, the international airline alliance. The chief executive of IAG, Willie Walsh, reportedly claimed that investing in a minor stake in America would provide them with the opportunity to strengthen the membership of the US carrier in Oneworld, the association with which his group is also affiliated.

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