IAG made two offers, both were rejected as they “undervalued” the company according management. Another offer came fourth, this time good enough for a sale, but buyer postponed and postponed “due brexit”. This buyer has never been disclosed. In the end management decided to “stand alone” and another emission followed, one which had been planned all along if the sale didnt go ahead.
The focus has shifted from that of expansion, to one of profitability. Long Haul fleet now making money, and fleet almost complete with only a couple of 787 to go for a grand total of 42.
Still challenges with the 787 engines and obviously the 18 max on the ground, but winter will be nowhere near as bad as last year according CFO. Canaries bases to remain open, redundancies avoided(apart from a few in the US max bases) and we have avoided a reduction in salaries, terms and conditions.