IAG, the parent company of British Airways, plans to purchase as many as 220 Airbus A320s in a deal valued at $20 billion. Some of the aircraft are destined for Vueling, a Spanish discount carrier owned by IAG that provides short-haul flights. "Vueling has managed to successfully expand its business profitably by targeting both growth markets and those areas where weak competitors are reducing capacity," IAG CEO Willie Walsh said in a statement.

Full Story:

Related Summaries