IAG boss hits out on foreign ownership rules

At a CAPA conference in Ireland, Willie Walsh chief executive IAG has criticised limits on foreign ownership of European airlines, calling them “ridiculous”. He called airline alliances such as Oneworld a poor substitute for mergers. “The alliance gives you good revenue synergies, but consolidation gives you cost and revenue synergies,” Walsh said. Walsh also blasted the EU’s antitrust rules that assess airline agreements and mergers based on the competitive positions of carriers at specific hubs. “The big concern I would have with competition policy in the EU is it is looking at the European market, rather than at a global