IAG looking for new long haul airline acquisitions
24.01.12
British Airways parent IAG is working to identify new takeover targets including long-haul operators Bloomberg reports. IAG is looking at opportunities beyond European airlines, Chairman Antonio Vazquez said in an interview. He said:: ‘In Europe, everything is really taken, so it’s difficult to do anything. So we would be keen on looking for long-haul airlines.’
Mr Vazquez said that a major inter-continental deal with an airline such as Oneworld alliance partner LAN Airlines of Chile would take time because of regulations limiting holdings to 49 percent. He said: ‘The problem is that current regulation doesn’t allow it and I don’t see anything happening this year at least. We are working on identifying new potential targets to be ready for the moment when they arise.’
IAG is working to close a deal to buy BMI, which it wants primarily for operating slots at Heathrow, and will subsequently decide whether to sell or keep the airline ’s headquarters building and other assets, Mr Vazquez said.
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