ARC NEWS
​IAG chief hints at TAP takeover interest
February 27, 2023
IAG chief executive Luis Gallego has responded to a question about potential takeover interest in TAP Air Portugal by saying that the group "will explore any options that will make the group stronger". During a call on 2022 results, Gallego said IAG's Air Europa takeover "does not stop us doing other possible M&As" and that "this group has always been a platform for consolidation". The Portuguese government is set to reveal a plan for TAP's privatisation over the coming months, having reportedly carried out pre-market assessments of interest. TAP was majority-nationalised amid the pandemic in 2020. There has been speculation that TAP could also become a takeover target for Lufthansa and Air France-KLM. Ben Smith, Air France-KLM's chief executive, recently observed that TAP's Brazilian routes were "extremely powerful for us". He added that AF-KLM's intention to pay back government assistance over the coming months would enable it to return to M&A activity.


​Ethiopian to begin JFK service in May
February 24, 2023
Ethiopian Airlines plans to launch a new service between Addis Ababa and New York JFK airport via Abidjan on 29 May.
The route will be operated four times per week using a Boeing 787-8, the African carrier says. Ethiopian first started serving New York from Addis Ababa via Abidjan in June 2019, however, the route was suspended in March 2020 due to Covid-19. The carrier resumed serving New York via Lome in October 2020. The airline currently operates to more than 130 international passenger and cargo destinations from Addis Ababa. It will also commence a new passenger service to Atlanta from 16 May 2023.


American selects new board chair
February 24, 2023
American Airlines board member Greg Smith will succeed the carrier's former chief executive Doug Parker as board chair upon Parker's retirement on 30 April. Parker stepped down as chief executive after eight years leading the US major on 31 March 2022, and was replaced by the carrier's president Robert Isom. He remained as board chair at that time. "Our CEO transition has been flawless thanks to the great work of Robert Isom, his team and our board," Parker states. "Now is the right time for our chairman transition and we are fortunate to have Greg Smith in place to assume that role. Greg has made outstanding contributions since joining American’s board, and his strong knowledge of the aviation industry and his decades of leadership experience will be invaluable going forward." Smith, a 30-year employee of Boeing who retired from the manufacturer in July 2021, joined American's board in January 2022. Additionally, Ray Robinson and Jim Albaugh are retiring from American’s board at the end of the current term. Robinson and Albaugh have served on American’s board since 2005 and 2013, respectively.


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