The offer by International Airlines Group (“IAG”) to acquire the 54% of Vueling’s shares that it does not already own expired on Friday 19 April 2013.
The airline group initially made an offer priced at €7.00 per share which Vueling management chose not to recommend. IAG subsequently increased its offer to €9.25 per share. However, the minimum acceptance level was reduced to just 4.16% of Vueling’s capital to leave IAG with at least overall control of Vueling, if not 100% ownership.
Assuming the transaction completes this will be the second airline acquired by IAG since its formation in 2011 and the third member airline of the group (the first acquisition, bmi, being subsumed into British Airways).
Why is IAG so interested in Vueling and what does it have planned?
Whilst this is not the first long-haul order for Airbus by either BA or IAG, for Airbus this is still a significant long-haul order by BA as the A350-1000 aircraft is likely to form a major part of BA’s long haul fleet as a replacement for the Boeing 747-400.
Here are a few new & noteworthy items for today, Sunday 21 April 2013:
Lufthansa flights next week are to be disrupted by industrial action by staff (Lufthansa)
Qantas’ retreat from Europe concludes with the end of its service from Sydney to Frankfurt (Plane Talking)
Iberia imposes further pay cuts on staff under the terms of arbitration as productivity talks with the unions fail to conclude (the pilots union SEPLA did not attend the talks) but has offered to reverse the cuts if talks successfully resume.
An Open Skies agreement between the EU and Israel has prompted industrial action by El Al staff (Bloomberg)
When BA’s parent company, International Airlines Group, bought bmi last year much was made of how the extra slots would enable BA to expand its long-haul network. So it was something of a surprise when last May BA announced it would launch new routes to Leeds-Bradford (initially 4 daily) and Rotterdam (3 daily) from 9 December 2012.
Neither are the most exciting destinations on the BA route network but both seem like a clear move to capture traffic from KLM.
British Airways has confirmed today that its (near) daily flight to Bangkok, BA9, will undergo a change of departure terminal at Heathrow, aircraft type and timing from the start of the Winter 2013 season on Sunday 27 October 2013.
The flight which currently departs from Heathrow Terminal 3 at 22:05 to arrive in Bangkok at 15:20 will transfer to Terminal 5 from 27 October 2013.
The operating aircraft will also a change from a four class Boeing 747 to a three class Boeing 777.
Furthermore, the departure time will change to 15:05, arriving in Bangkok at 09:20 and returning from Bangkok at 10:55 to arrive at Heathrow at 16:55. This is also the last BA operated long-haul flight to transfer from Terminal 3 to Terminal 5.
An 11 hour transatlantic flight from San Francisco to London in a passenger configured BA aircraft may not seem the most conducive environment for 100 thinkers to come up with solutions to the world’s problems, but BA thinks otherwise with the launch of Ungrounded.
Sir Richard Branson complains about the “Big Three” US airlines and the competitive activity by United against Virgin America. This is the same Richard Branson that owns 51% of Virgin Atlantic, with the remaining 49% owned by its forthcoming joint-venture partner Delta.