British Airways owner threatens to shift investment to Madrid amid Heathrow row [Yahoo! Finance]
INTL CONSL AIRLNS S/ADR (ICAGY)
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Source: Yahoo! Finance
The chief executive of British Airways (BA) has warned that its Spanish owner could ditch investment in Heathrow if the bill for the airport's third runway is too high. Sean Doyle said International Airlines Group (IAG) is concerned by the cost of Heathrow's £49bn expansion , which will be largely paid for by carriers and passengers. He said IAG does not support plans to move the M25 to accommodate the expansion, while he also urged officials to consider pursuing a shorter, cheaper runway. A failure to keep passenger fees under control risks making Heathrow less attractive, Mr Doyle said, while it could also lead to IAG prioritising investment in its airlines overseas, including Spain's Iberia and Ireland's Aer Lingus. He said: “We're part of a group and the group allocates capital on the basis of performance. “If Heathrow becomes uncompetitive and that impacts the performance of an airline like BA, there'll be opportunities to put that capital elsewhere.” Mr Doyle added:
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