Boris Johnson’s government would be looking for ways to take a stake in UK airlines such as Virgin, Easyjet or British Airways.The British government wouild intend to inject millions of pounds in exchange for shares in the companies, reported FT. These would later be sold to private investors. The main problem is that British Airways is part of the IAG group, based in Spain.
On Wednesday, President Trump announced a ban on flights to the U.S. from continental Europe for the next 30 days, with the aim of curbing the coronavirus’ spread. The impact will be high for European carriers such as Air France-KLM and Lufthansa and, to a lesser extent, for IAG. In 2019, passengers to North America accounted for 11% of IAG’s total.
Renta 4 │ IAG results for Q219 exceeded expectations. It has maintained its guidance for 2019 and downgraded its expectations for oil prices. Positive impact on share price.
After the presentation yesterday by the EC of a new battery of contingency plans for specific industry sectors in the case of a no deal Brexit, IAG´s airlines which comprise Spanish Iberia and Vueling, will not be allowed to operate domestic flights within the EU, nor connections with stop-overs in Europe.