12% stake may be sold by struggling Spanish bank Bankia
A 12% stake in the airline group IAG, which was formed with the merger of British Airways and Iberia in 2010, may be up for grabs. The stake is owned by the struggling Spanish lender Bankia, which is under pressure to sell its corporate shareholdings. IAG CEO Willie Walsh has confirmed that potential investors want to buy the stake but has not said who they are.
“There are investors interested in replacing Bankia, and in my opinion it is not a question of if but when they are going to sell,” he told the Spanish financial newspaper Expansion.
Walsh is open to having other airlines as shareholders, as long as they remain “neutral”, and stresses that there is no strategic value in having the Spanish government – which also holds 12% of IAG – as a shareholder.
[pictured: British Airways First cabin]