IAG puts off acquisition plans says Walsh

British Airways parent IAG has put its acquisition plans on hold as the European debt crisis hurts demand for travel, its chief executive Willie Walsh said.

12th June, 2012
Dublin-born Willie Walsh identified 12 takeover candidates before IAG’s formation last year.

British Airways parent IAG has put one of the aviation industry’s most ambitious acquisition plans on hold as the European debt crisis hurts demand for travel.

Chief executive Willie Walsh, who identified 12 takeover candidates before IAG’s formation last year, said the attraction of mergers has faded and that consolidation is most likely to be achieved through the collapse of weaker carriers.

“We aren’t looking at any acquisitions,” Walsh said today in...

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