International Consolidated Airlines Group
The old saw about British Airways was that it is a massive pension fund with an airline attached (Robert Lea writes). That idea hasn’t gone away and the carrier is still plugging the black hole at a rate of £450 million a year.
In addition to that millstone, BA and its parent company IAG have been deeply affected by the coronavirus pandemic, as badly as any global aviation group.
IAG, or International Consolidated Airlines Group, is made up of the UK’s privatised flag carrier BA, its Spanish counterpart Iberia — with whom it merged in January 2011 to create IAG — and the subsequent acquisitions of the Spanish discount short-haul operator Vueling and the former Irish state airline Aer Lingus.
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