International Consolidated Airlines Group SA Chief Executive Officer Willie Walsh earned close to 5 million pounds ($8.36 million) in 2013 after base pay frozen at 825,000 pounds was swollen by performance-based awards.
British Airways parent IAG SA said unions representing pilots and cabin crew at unprofitable Spanish unit Iberia agreed to raise productivity as part of a turnaround program eliminating more than 3,000 jobs.
London’s Heathrow airport emerged as favorite to gain a new runway as a study of Britain’s flight- capacity shortage threatens to reignite a fight within leading political parties over noise at Europe’s busiest aviation hub.
IAG Chief Executive Officer Willie Walsh said he’ll move forward with a cost-cutting strategy at the Madrid-based Iberia unit of Europe’s third-largest airline after unions spurned the latest plan to reduce headcount.
IAG Chief Executive Officer Willie Walsh said a turnaround for its Iberia unit in Spain will lead to a profit next year at the subsidiary, which has weighed on group earnings as the company cuts thousands of jobs.
British Airways parent International Consolidated Airlines Group SA doubled third-quarter earnings and lifted the full-year outlook as it squeezes value from Spanish arm Iberia and the U.K. unit taps a trans-Atlantic boom.