International Consolidated Airlines Group SA
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IAG is an Anglo-Spanish, multi-national airline holding company with its registered office in Madrid, Spain and its operational headquarters in London, England. IAG is the world's 3rd-largest airline group in terms of annual revenue, and the 2nd-largest in Europe. Sales break down as follows:
- 88.1: Passengers
- 4.7%: Freight
- 7.2%: Other: maintenance and handling services, distribution of computer reservation systems, etc.
Group Companies
British Airways is the the largest airline in the UK based on fleet size, or 2nd largest in terms of number of passengers.
The British Airways World Cargo brand provides cargo services, and is the world's 12th-largest cargo airline based on total freight tonnes per kilometres flown.
- Iberia, https://www.iberia.com/gb/
- Vueling
- Aer Lingus
- Norwegian: bought a 4.6% stake in the low-cost long-distance airline, with a view to starting takeover discussions.
Company
Total float: 74.3%
- 21.5%: Qatar Airways QCSC†
- 9.24% Capital Research & Management Company (World)
- 3.06% Capital Research & Management Company (Global)
- 2.15% Lansdowne Partners (UK) LLP, ref
- 1.94% Invesco Asset Management Ltd
- 1.40% Norges Bank Investment Management
- 1.20% JP Morgan Asset Management (UK) Ltd
- 1.10% Aberdeen Asset Investments Ltd
- 1.02% Invesco Advisers Inc
- 0.88% APG Asset Management NV
† Qatar Airways has a 20% stake in British Airways parent IAG SA. ref, Nov.2017
Structure
British Airways
British Airways is the UK's flag carrier airline, and is the 2nd-largest airline in the UK. britishairways.com
Sept.2011 | Relaunch: "To Fly. To Serve."[1] |
Apr.2011 | IAG Cargo was formed by the merger of British Airways World Cargo and Iberia Cargo.ref, ref |
Jan.2011 | International Airlines Group was created by BA merging with Iberia. IAG is a holding company registered in Madrid, Spain. BA and Iberia became 100% owned subsidiaries of IAG, although both airlines continue to operate under their current brand names. As BA was the larger company, BA shareholders were given 55% of the shares in the new, merged company. |
2012 | British Midland International was acquired by BA. |
Nov.2007 | British Airways Flying Club was sold to Surinder Arora, along with the long-term lease of the airfield held by Airways Aero Association. ref Airways Flying Club |
Oct.2007 | GB Airways was acquired from the Bland Group Ltd by EasyJet; the acquisition was approved in Jan.2008. GB Airways continued to honour its BA franchise agreement and operated as GB Airways until Mar.2008. The company then ceased operations, and its assets were hived up into EasyJet. |
Nov.2006 | BA Connect was sold to Flybe.ref The sale completed in Mar.2007. |
Jun.2003 | Deutsche BA: announced plans to sell the airline to investment group Intro Verwaltungsgesellschaft, for €1. BA agreed to invest up to €35m in the airline, and to guarantee the leasing contracts for the carrier's fleet. In return, BA was entitled to 25% of any profits until Jun.2006.ref |
Jun.2001 | Go Fly was sold in a management buyout, financed by 3i and Barclays Private Equity. 3i and Barclays acquired a 62% stake; Go employees took a 22.5% stake. The deal stipulated that BA would receive a further £10m if 3i sold Go to someone else within 5 years.[2] Go Fly was sold to EasyJet in May.2002. |
May.2000 | Air Liberté was sold to the Taitbout-Antibes unit of the Marine Wendel group, which was representing SAirGroup, Swissair's parent company.ref |
Nov.1999 | CityFlyer Express: British Airways completed its purchase, following approval from the Secretary of State for Trade & Industry, subject to undertakings which were offered by British Airways during the Competition Commission's investigation of the transaction. |
Jun.1999 | Galileo International Inc: BA sold its subsidiary that indirectly held 7,000,400 shares in GII.. BA sold its in-flight catering facility at Gatwick to Alpha Catering Services. |
Jun.1999 | British Airways World Cargo was opened at Heathrow. "Ascentis" was an automated freight handling centre capable of handling unusual and valuable cargo, as well as fresh produce.[3] BA Regional Cargo handled freight at all of the main regional airports throughout the UK.[4] |
Feb.1999 | British Airways confirmed that it was to take a 9% stake in Iberia Lineas Aereas de Espana SA as part of the Spanish airline's privatisation programme. American Airlines Inc confirmed that it would take a 1% holding in Iberia. British Airways sold just under 30% of its holding in Equant, the telecommunications company, for a profit of £49m. |
Sept.1998 | OneWorld global alliance announced by American Airlines, BA, Canadian Airlines, Cathay Pacific Airways and Qantas Airways. Finnair joined the alliance in Dec.1998; Iberia in Feb.1999; LanChile in May.1999; and Aer Lingus in Dec.1999. The alliance became effective in Feb.1999. |
Apr.1998 | Deutsche BA became fully-owned by BA. |
Feb.1998 | Go Fly: BA confirmed the launch of a new low fare, no frills airline, which would fly in Europe.[5] The new airline was to be based at Stansted and operate as a separate business with its own name, identity, management and employees. Go Fly was launched in May.1998. |
Dec.1997 | British Airways sold its Heathrow catering production units to Gate Gourmet, part of the SAirGroup. |
Sept.1997 | BA sold its landing gear business to Hawker Pacific Inc, and its wheels and brakes business to Allied Signal Aerospace. |
Jun.1997 | "World Image": The 1983 logo was percieved as "overly British", "stuffy", and appeared mired by consumer brand perception, so a new "look" and logo was designed. BA allowed artists from all over the world to repaint the entire tail with motifs the from its diffrent destinations. The tails proved controversial, and in a few years were replaced by the Union Jack for all planes. ref |
May.1997 | USAir: BA sold all its shares. |
Apr.1997 | Deutsche BA: BA acquired the remaining 51% shareholding, after liberalisation of the European air traffic market.[?ref?] |
Feb.1997 | Air Liberté: The European Commission approved BA's acquisition of the financially distressed airline.ref The takeover was made by BA's subsidiary, TAT European Airlines. By the end of 1997, TAT's operations were being unified with those of Air Liberté's.ref |
Nov.1996 | USAir served notice to end its codeshare and frequent flyer relationship, effective from Mar.1997. |
Aug.1996 | TAT European Airlines: BA acquired the remaining 50.1% shares, becoming the sole owner. |
Aug.1996 | British Airways Express: BA commenced a franchise agreement with Sun-Air of Scandinavia. Sun-Air flies as BA Express on a network linking with BA at Copenhagen, Oslo and Stockholm. |
Jun.1996 | American Airlines Inc and BA announced plans for an alliance. From Apr.1997, they planned to co-ordinate their passenger and cargo activities between Europe and the USA, introduce extensive codesharing across each other's networks and establish full reciprocity between their frequent flyer programmes. USAir had a pink fit, and the BA/USAir alliance ended in a court battle.ref |
Mar.1995 | Caledonian Airways: BA decided to exit the short- to medium-haul package holiday market; accordingly, Caledonian was sold to Inspirations plc, part of the Carlson Leisure Group. |
Feb.1995 | GB Airways became a full BA franchise operator. |
May.1993 | BA and Maersk Air of Demark announced a conditional agreement to each inject £6m into The Plimsoll Line to enable it to meet its outstanding debts and restructure. Brymon Aviation and Plymouth City Airport were to become wholly-owned BA subsidiaries, and Maersk Air Ltd (formerly Birmingham European Airways) became a wholly-owned subsidiary of Maersk Air. Following approval of the restructuring by the Office of Fair Trading, BA announced in August that flights operated by Brymon and Maersk Air Ltd were to fly in the colours of British Airways. |
Apr.1993 | USAir: BA increased its holding to 24.6%. |
Mar.1993 | Quantas: BA acquired a 25% stake. |
Jan.1993 | USAir: BA announced a new alliance with USAir for an initial 19.9% voting interest. |
Nov.1992 | Dan-Air: BA acquired Dan-Air's holding company's assets for £1. The charter side was closed down but its Gatwick routes and aircraft were retained with a view to creating a low-cost BA operation at Gatwick, operating a much-enlarged network of European services. |
Sept.1992 | TAT European Airlines: BA acquired a 49.9% share, subject to adjustment at the time of completion (Jan.1993). |
Mar.1992 | Deutsche BA: a consortium of BA (49%) and German banks (51%) acquired low-cost German regional airline Delta Air, and renamed it. |
Feb.1992 | BA agreed the sale of its property maintenance branch to Drake and Scull. |
Aug.1991 | BA agreed to sell the business previously carried on by British Airways Engine Overhaul Ltd to General Electric of the USA. |
Jul.1991 | Air Russia: An agreement was signed to begin work on creating a new international airline based in Moscow to be known as Air Russia. British Airways would have a 31% stake. |
Jan.1989 | GB Airways Ltd: Gibraltar Airways changed its name, and moved its HQ to the UK. |
Apr.1988 | Caledonian Airways: British Airtours was rebranded, due to the popularity of the Caledonian brand. |
Jul.1987 | British Caledonian acquired by BA; the acquisition completed in Apr.1988. |
Feb.1987 | BA was privatised as part of Thatcher's privatisation plans. |
1987 | Galileo UK: Travicom changed its trading name. Nine European carriers come together to support it: BA, KLM Royal Dutch Airlines, Alitalia, Swissair, Austrian Airlines, Olympic, Sabena, Air Portugal and Aer Lingus. |
Sept.1986 | British Airways Helicopters was sold to SDR Helicopters (Robert Maxwell's Mirror Group), and renamed "British International Helicopters".[6][7] |
Dec.1983 | British Airways plc: BA was incorporated as a publicly listed company, to take over all assets of the British Airways Board.[8] To celebrate, they got a new logo, unveiled in Dec.1984. |
May.1979 | The new Tory govt announced that BA would no longer receive any state support or interference in its commercial decision making; the govt planned to privatise BA, but the recession delayed these plans as BA suffered massive losses. |
1976 | Travicom: Travel Automation Services Ltd was launched by BA, British Caledonian and Videcom, a travel tech company. Travicom was the world's first multi-access reservations system. |
Mar.1974 | British Airways: BOAC and BEA were dissolved, and BA took over their operations, together with those of the two regional companies, Cambrian Airways and Northeast Airlines. British Airways Helicopters: BEA Helicopters was renamed, to reflect its parent's new name. |
Sept.1972 | The British Airways Group was established, with British Airways being incorporated in 1973. |
May.1972 | The Edwards Committee recommended the merging of BEA and BOAC to form British Airways. |
1971 | The Civil Aviation Authority was created. The British Airways Board was created to function as a holding company for BOAC and BEA, with the intention of merging them in Mar.1974. It also held two regional airlines, Cambrian Airways (Cardiff), and Northeast Airlines (Newcastle upon Tyne). (Civil Aviation Act 1971). |
Apr.1969 | British Airtours Ltd, a new subsidiary charter company, was formed as a division of BEA. |
1966 | British Airports Authority was set up as a self-financing body. It took control of 4 state-owned airports: Heathrow, Gatwick, Stansted and Prestwick. (Airport Authority Act 1965). |
1964 | BEA Helicopters Ltd was formed. British Airways Helicopters |
Jul.1949 | BSAA was absorbed by BOAC, becoming its South American division. The merger completed in Jan.1950. (Air Corporations Act 1949). |
1948 | Airways Aero Club was formed by employees of British European Airways and British Overseas Aircraft Corporation, with ex-RAF Tiger Moths. The club was later renamed as the British Airways Flying Club.ref Airways Flying Club |
Aug.1947 | British Commonwealth Pacific Airlines formed by the Australian and New Zealand governments. |
1947 | Gibraltar Airways, t/a GibAir, sold a 49% stake to BEA. The London Heathrow to Gibraltar service was jointly operated. |
Aug.1946 | BSAA became govt-owned, and took over BOAC's South American routes. Later, routes to the West Indies, Central America and the west of of South America were added. |
Jan.1946 | British European Airways was formed as the European Airways division of BOAC. |
Nov.1945 | The govt announced plans for post-war air services which would be provided by 3 state corporations: BOAC to operate routes to the Empire, Far East and North America; British European Airways (BEA) to operate services within the UK and to Europe; and British South American Airways (BSAA) to operate new services to South American and Caribbean destinations. (Civil Aviation Act 1946) |
Jan.1944 | British South American Airways (BSAA) (initially "British Latin American Air Lines") was formed by 5 shipping companies to complement their services to South America.[9] |
Apr.1940 | BOAC officially took over the operations of Imperial Airways and British Airways Ltd. |
Nov.1939 | British Overseas Airways Corporation (BOAC) was created by the merger of Imperial Airways and British Airways Ltd. State-owned. The merger was officially completed in Apr.1940. (BOAC Act 1939). |
Apr.1936 | British Airways merged with British Continental Airways. |
Sept.1935 | British Airways Ltd was formed by the merger of Spartan Air Lines Ltd, United Airways Ltd, and Hillman's Airways. |
Apr.1935 | British Continental Airways Ltd was formed to operate airline services from Croydon Airport to the continent. Initially a private company, it went public in Oct.1935. |
1931 | Gibraltar Airways was established as an offshoot of an Gibraltarian shipping company. The airline represented Imperial Airways/BOAC during World War II (1939-1945). |
Mar.1924 | Imperial Airways Ltd was formed, based at Croydon airport. The company principally served the British Empire routes to South Africa, India and the Far East, including Malaya and Hong Kong, but also parts of Europe. |
Feb.1923 | The Hambling Committee recommended that 4 of the largest existing airlines, the Instone Air Line Company Ltd, British Marine Air Navigation, the Daimler Airway, and Handley Page Transport Co Ltd, should be merged. |
Additional Sources: ♦ Explore our past. British Airways. Accessed Nov.12.2018. ♦ Imperial Airways ♦ Co-existence of sectors and expansion. The National Archives, Gov.uk.
Articles
- Sept.11.2018: This Is How 380,000 British Airways Passengers Got Hacked. A report by threat researcher Yonathan Klijnsma of the San Francisco-based threat detection firm RiskIQ, which offers brand new insight into how the hackers pulled off their attack. Jordan Bishop, Forbes.
- Sept.07.2018: BA chief pledges to compensate customers after data breach. Álex Cruz apologises for ‘sophisticated’ theft affecting 380,000 payment cards. The data theft, one of the most serious to hit a UK company, deals another blow to BA’s reputation. The airline experienced an IT disaster last year when a power surge in its control centre near Heathrow caused a global flight interruption and left tens of thousands of passengers stranded, most notably at London airports Sarah Marsh, The Guardian.
- Sept.06.2018: British Airways customer data stolen from its website. #British Airways is investigating the theft of customer data from its website and app and has urged customers affected to contact their banks or credit card providers. The airline said around 380,000 payment cards had been compromised. The data theft will be another serious blow to BA’s reputation. In May last year, the airline suffered an IT disaster when a power surge in its control centre near Heathrow caused a global flight interruption and left tens of thousands of passengers stranded, most notably at the London airports. Smaller glitches have recurred, with dozens of short-haul flights cancelled again this July. Although BA and the airline group that owns it, IAG, have denied the issues were connected to a decision to outsource IT operations, the latest breach will raise further questions. Swyn Topham, The Guardian.
- Aug.03.2018: Profits take off for British Airways owner IAG. Pre-tax profits at IAG, which also owns Iberia, Vueling and Aer Lingus, rose from €758m to €1.66bn in the six months to Jun.30 on a 3.1% increase in revenue to £11.2bn. Martin Strydom, The Times.
References
- ^ To Fly. To Serve. British Airways relaunches itself with new slogan that nods to its imperial origins. Ray Massey, Mail Online, Sept.21.2011.
- ^ BA sells Go for £100m. BA's low cost carrier Go ends up in private hands. BBC News, Jun.14.2001.
- ^ British Airways World Cargo. Press Release, Freight International, 2002. Original archived on Oct.14.2007.
- ^ New valuable cargo facility opens. British Airways World Cargo, Mar.31.2001. Original archived
- ^ TBT (Throwback Thursday) in Aviation History: Go Fly. Daniel Morley, Airlie Geeks, Jun.29.2017.
- ^ Maxwell buys BA Helicopters. Business Aviation, Oct.04.1986.
- ^ British International Helicopeters Ltd: 1986-2000. British Airways Helicopters Ltd. World History, Mar.18.2015.
- ^ Incorporation of British Airways plc. Companies House, Dec.08.1983.
- ^ Fly With The Starts: A Complete History of British South American Airways. Background to the formation of the airline. Susan & Ian Ottaway, 2nd ed., .