24 January 2011
International Airlines Group (IAG), created through the merger of British Airways and Iberia, has made its debut with a formal launch, and the trading of IAG shares in place of the now cancelled British Airways and Iberia shares, on the London Stock Exchange, as well as in Madrid, Barcelona, Bilboa and Valencia Stock Exchanges.
Through this merger IAG is now the third largest airline in Europe by revenue, behind Lufthansa and Air France–KLM. Despite this, IAG Chief Executive, Willie Walsh, reaffirmed the groups desire to expand in the future.
The group expects to save £340 million (400 million euros) a year by 2016, however impending industrial action and higher fuel costs could affect performance this year.