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IAG seeking new targets for takeover

BRITISH Airways parent IAG, seeking to build on its formation from a merger of the UK carrier with Spain's Iberia a year ago, is working to identify new takeover targets, including long-haul operators.

IAG is looking at opportunities beyond European airlines such as BMI, which it has agreed to buy, and Portugal's state-owned TAP, in which it has declared an interest. "We are definitely interested in seeking other acquisitions," chairman Antonio Vazquez said. "In Europe, everything is really taken, so it's difficult to do anything." (Bloomberg)

Quinn company in €16m satellite deal


A company chaired by Niall Quinn will pay up to £13.6m (€16.2m) for capacity on a satellite to improve its broadband service. QSAT delivers broadband via satellite to areas not covered by traditional broadband infrastructure. QSAT has bought capacity on Hylas 1 from Avanti Communications. It is a seven-year deal worth a minimum of £9.3m and up to £13.6m.

CIE Tours carries 40,000 passengers


CIE Tours International has reported strong growth for 2011 and carried around 40,000 passengers during the year. Bookings to Ireland from North America increased by 20pc, while bookings to the UK increased by 60pc with many of these passengers visiting Ireland as well. CIE Tours booked around 300,000 bednights throughout Ireland in hotels ranging from five-star to three-star. There were also thousands of beds booked in B&Bs. According to CIE Tours International MD Brian Stack, 2012 is off to a strong start with bookings up 10pc over the same period last year.

Dates for 2012 web summit revealed


THE 2012 Dublin Web Summit will take place on October 17 and 18, it was confirmed yesterday. DWS founder Paddy Cosgrave, who is addressing the Davos World Economic Forum this week, also launched "Start Summit", an invite-only networking event for the Irish start-up community. The DWS has become a landmark in the Irish technology community and for the past two years has been run parallel to the F.ounders Event, which brings some of the top names in the global tech world together in a Davos-style environment.

Irish Independent