IAG tweaks ownership structure to meet EU rules

IAG, which also owns Aer Lingus, Iberia and budget brand Vueling, has made changes to the ownership of the Irish carrier and Iberia to comply with EU ownership and control rules.

It has also adjusted the structure of its board of directors to ensure the majority of non-executive directors are from the EU.

IAG chairman Antonio Vazquez said: “It is disappointing that it has become necessary to make these changes to the board.

“However, we are pleased that the EU-UK Trade and Cooperation Agreement recognises the potential benefits of further liberalisation of airline ownership and control because we believe that it is in the best interests of the industry and consumers.”