The boss of Spanish low-cost carrier Vueling is to run British Airways under senior management changes revealed by parent company International Airlines Group today.
BA executive chairman Keith Williams will be retiring in April 2016.
His replacement was named as Alex Cruz (pictured), currently chairman and chief executive of Vueling.
BA chief financial officer, Nick Swift, will also be stepping down next April to be replaced by IAG Cargo chief executive, Steve Gunning.
“Further appointments will be announced in due course,” IAG said.
The changes came as IAG held a capital markets day, announcing a “considerable upgrade” to its long-term return and equity cash flow objectives.
Long-term planning goals for 2016-2020 include an improved profit margin up from 10%-14% to 12%-15% and annual earnings [EBITDA] up to €5.6 billion from €5 billion previously estimated.
IAG reported that group traffic in October increased by 16.6% year-on-year as capacity rose by 13.2%, with premium traffic up by 5.7%.
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