In August 2013, Group traffic measured in Revenue Passenger Kilometres increased by 10.6 per cent versus August 2012 (down 0.2 per cent on a pro-forma basis).
On August 14, IAG announced that it had secured firm orders and options for up to 220 Airbus A320 family shorthaul aircraft – up to 120 of these for its subsidiary Vueling. The order comprises 62 firm orders – 30 A320ceo and 32 A320neo – plus 58 options for Vueling. The firm orders will be delivered between 2015 and 2020, enabling the airline to replace some of its existing A320 fleet and expand its business. In addition, IAG secured 100 A320neo options which could be used for any of the airlines in the Group – British Airways, Iberia or Vueling – for aircraft replacement requirements.
On August 16, IAG announced that British Airways had exercised its option to redeem its convertible bond which was issued in 2009 to raise £350 million and was scheduled to mature in August 2014. Bondholders will be redeemed on 30 September, unless they decide to convert their bonds into ordinary shares by 23 September. The conversion price for bondholders is £1.89 per share. The maximum number of new shares which could be issued is 9.96 per cent of the current share capital and this will not affect IAG’s target earning per ordinary share.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
