There is no question that 2017 is a difficult year for many airlines across the globe: Do they expand? Do they take delivery of new aircraft? Do they rationalise their fleet? Luckily for Willie Walsh the breadth of IAG allows him the luxury to confront many options at once. With its new low-cost, long-haul airline, Level, IAG has backstopped Iberia’s turnaround with a fall-back position, somewhere to deploy Iberia staff and aircraft at a profit (one hopes). At the same time, the IAG profit powerhouse of Vueling is given intercontinental connections backstopping it against attack from any other low-cost, long-haul

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