July 31, 2020 / 7:05 AM / 14 days ago

IAG CEO says will have comfortable buffer, sticks to September 8 retirement

FILE PHOTO: Willie Walsh Chief Executive of International Airlines Group (IAG) attends the Europe Aviation Summit in Brussels, Belgium March 3, 2020. REUTERS/Johanna Geron

LONDON (Reuters) - The capital raise proposed by British Airways-owner IAG (ICAG.L) will give the airlines group “a very comfortable buffer”, said its chief executive, who added that he would not be extending his tenure again.

“I will be retiring on the eighth of September at the AGM when Luis will take over from me. That is firm. We’re not going to change that,” Walsh told reporters on a call on Friday.

When the pandemic struck earlier this year, Walsh delayed his retirement. Luis Gallego is due to succeed him.

Reporting by Sarah Young; editing by Kate Holton

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