Iberia's future at IAG threatens to provoke a diplomatic crisis. Risk of r...
Banco Santander, Iberdrola and Ferrovial in the United Kingdom Train crash between the Government of Spain and the United Kingdom over the future of Iberia and British Airways in IAG. In Moncloa, there is above all fear that there may be retaliation against companies with important interests in that country such as Banco Santander, Iberdrola and Ferrovial. And try at all costs to minimize it. Outrage in Iberia. British Airways illustrates its magazine with a photo of an airplane with the colors of the British flag and the Rock of Gibraltar in the backgroundEl Confidencial Digital has learned from senior Government officials, in Moncloa, but also in the Ministry of Public Works , they remain vigilant against a worsening of social conflict in the coming weeks due to the merger of Iberia and British Airways . The Government seeks to avoid a confrontation with the United Kingdom at all costs due to tensions between Iberia and British Airways over the adjustment in IAG.
The tension has increased significantly The sources to which ECD has had access confirm that the CEO of IAG, Willie Walsh, is pressuring the management of Iberia to undertake new adjustments in the Spanish airline with the argument that it is the only way to reduce its high losses. and with the objective that the company can have aMiddle East Mobile Number Listviable future plan and move forward . The tension has been growing in recent days, according to these sources, especially after the departure of IAG's capital from Bankia and El Corte Inglés , which together accounted for 14%, which has left the Spanish participation in the holding company formed by Iberia. and British Airways in 2.71% of the State Industrial Participations Company (SEPI). This means that Spain's influence on the flag airline has been considerably reduced, although the Government is not willing to throw in the towel through the small participation it has left through the SEPI to intervene in the conflict. Avoid a full-scale diplomatic clash However, according to the sources consulted, the Executive has set a clear objective: to avoid at all costs a diplomatic clash with the United Kingdom over this matter, reminiscent of the one that both countries have had for years over the Rock of Gibraltar .
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Therefore, the strategy that will be followed is clear: avoid making excessive statements, but above all those that could be taken as a provocation by the British authorities and that end up adding fuel to the fire of this conflict. exp-player-logo see more The PP concludes that the Basque elections will not influence Spain Avoid retaliation against Spanish companies Another aspect that is taken into account in the Moncloa offices is the risk of retaliation against Spanish companies with important interests in the United Kingdom , such as Santander, Iberdrola or Ferrovial . Although it is not a country like Argentina, where the Government of Cristina Fernández de Kirchner expropriated YPF from Repsol more than a year ago and has still not paid fair compensation, the Spanish Executive does not want to take risks . Santander is the third largest bank in the United Kingdom in terms of deposits, the second largest in mortgages, and the fourth largest in branches operated, with more than 25 million customers . The subsidiary chaired by Ana Patricia Botín has more than 1,300 branches , and employs more than 25,000 people throughout the United Kingdom.
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