[Anonymous]

[pdwtrip]

I wondered if there was any news on an extension for 2012?
The IAG website suggests no plan decided at present?

http://www.iagshares.com/phoenix.zhtml?c=240949&p=irol-shareholderhome

Has anyone any news on this?

Thanks

[BeckyBoop]

I overheard a group of guys on the tube at lunch time talking about this and from what i could workout IAG are suppose to be having some big meeting this month and they will give details either straight after that or agm in jan… i dont know how much of this is true or who these guys were but they looked and spoke in a way that sounded like they knew what they were talking about :s xxx

[pdwtrip]

Thanks for that – it seems strange nothing announced yet – given the current system expires in a couple of weeks?

[VintageKrug]

It does, but I would suggest that the lack of news might be encouraging as it suggests something is trying to be fixed behind the scenes (eg adding this functionality for Iberia flights) rather than canning the programme altogether, which would be a simple and straightforward announcement which would have been easy to roll out and would need to be done with a decent notice period.

There may be some legal constraints to offering such a preferential discount for shareholders on the Spanish register; there may also be laws against discriminating against certain classes of shareholder.

It’s clear the intention is to ensure IAG doesn’t discriminate against a certain category of IAG shareholder by only offering the favourable terms to legacy BA shareholders; my feeling is that it will be re-instated in due course after the 31 December 2011 end date, but I’m not sure the necessary technical assessment has yet been completed to make it possible.

http://www.iagshareholders.com/phoenix.zhtml?c=240949&p=irol-shareholderhome

I’m still confident it will be available to a wider group of current IAG shareholders and possibly for Iberia flights as well at some stage in 2012.

All in all, the Board has had a very busy year, what with the Industrial Action which only ended this Summer, the JV with AA and Iberia, the takeover of bmi, the integration with Iberia and the usual strains of running an airline group in the current unpredictable economic circumstances. No excuse for this, but I can see why it wasn’t a priority, especially to the largely Spanish team which makes up the Board.

I think the discount is an important way of diversifying the shareholder base, and also generating (modest) sales off the back of the discount, especially important in a highly cyclical industry which loses more money than it makes, and struggles to pay dividends.

It hasn’t been handled very well, though.

[Eastbourneguy]

The 2011 codes are not recognised anymore – has anyone discovered they still do?
I guess we can only wait for news?

[travelworld]

No, the shareholder discount is no longer available. It’s a shame it has just expired without any further news from IAG. Not the best way to treat shareholders….

[Eastbourneguy]

I have today emailed them, and the auto response says:

Thank you for contacting IAG Shareholder Services. We are now away from the office and will not be able to respond to your email until Tuesday 3rd January. If your enquiry relates to your shareholding please contact our Registrars Computershare on 0870 702 0110 during office hours (0830-1730).
If your enquiry relates to the shareholder discount, please note that this is currently being evaluated and you will find updates on our website, http://www.iagshareholders.com, please check this on a regular basis. No discount details have been issued for 2012.

Wishing you a Merry Christmas and a Happy New Year.
IAG Investor Relations team

[travelworld]

Thanks. it’s not very impressive, really. It hasn’t exactly been sprung on them and you would have thought that a decision one way or the other could have been made before the deadline…leaving shareholders in limbo isn’t good investor relations…

[DisgustedofSwieqi]

I was going to write unbelievable, but on reflection, it is not in the Walsh era.

The contempt for providing a reasonable service is quite remarkable.

[greyhawkgeoff]

published today on IAG

‘as soon as a decision has been made, which is expected by the end of January’

so now we know, or don’t know!

[Hippocampus]

The lack of communication is not good but, to be fair, the IAG board has had a very significant transaction to deal with over the past few months and it is understandable that this decision may have, by necessity, slipped off the agenda.

[DisgustedofSwieqi]

It is inexcusable.

The shareholders own the company and the board works for them.

[Eastbourneguy]

They have long enough to sort this out – so any shareholders who book flights in January will now have to pay 10% more – Inexusable

[BAGoldcard]

Not at all good or impressive.

Would it be possible for BT to approach BA for an explanation, please?

[Author]

Posts