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9 months ago

Annual report and accounts 2016

216 Group investments

216 Group investments Subsidiaries Name and address Principal activity Country of Incorporation Percentage of equity owned AERL Holding Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% Aer Lingus 2009 DCS Trustee Limited Dublin Airport, Dublin Republic of Ireland 100% Aer Lingus Beachey Limited Penthouse Suite, Analyst House, Peel Road, Isle of Man, IM1 4LZ Isle of Man 100% Aer Lingus Group DAC* Dublin Airport, Dublin Aer Lingus Limited* Dublin Airport, Dublin Aer Lingus (NI) Limited Aer Lingus Base, Belfast City Airport, Sydenham Bypass, Belfast, BT3 9JH Aer Lingus (Ireland) Limited Dublin Airport, Dublin ALG Trustee Limited Dublin Airport, Dublin Avios Group (AGL) Limited* Astral Towers, Betts Way, London Road, Crawley, West Sussex, RH10 9XY Avios South Africa Proprietary Limited 34 Whitley Road, Unit B, 3 rd Floor, Melrose Arch, Melrose North, Johannesburg BA and AA Holdings Limited* Waterside, PO Box 365, Harmondsworth, UB7 0GB Holding company Airline operations Republic of Ireland 100% Republic of Ireland 100% Northern Ireland 100% Republic of Ireland 100% Republic of Ireland 100% Airline marketing England 100% South Africa 100% Holding company England 100% BA Call Centre India Private Limited (callBA) F-42, East of Kailash, New-Delhi, 110065 India 100% BA Cityflyer Limited* Waterside, PO Box 365, Harmondsworth, UB7 0GB Airline operations England 100% BA European Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% BA Healthcare Trust Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% BA Number One Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% BA Number Two Limited 13 Castle Street, St Helier, JE4 5UT Jersey 100% Bealine Plc Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% bmibaby Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% Binter Finance B.V. Prins Bernhardplein 200, Amsterdam, 1097 JB Netherlands 100% BritAir Holdings Limited* Waterside, PO Box 365, Harmondsworth, UB7 0GB British Airways Plc* Waterside, PO Box 365, Harmondsworth, UB7 0GB Holding company England 100% Airline operations England 100% 1 British Airways (BA) Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% British Airways 777 Leasing Limited* Waterside, PO Box 365, Harmondsworth, UB7 0GB Aircraft financing England 100% British Airways Associated Companies Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% British Airways Avionic Engineering Limited* Waterside, PO Box 365, Harmondsworth, UB7 0GB Aircraft maintenance England 100% British Airways Capital Limited Queensway House, Hilgrove Street, St Helier, JE1 1ES Jersey 100% British Airways E-Jets Leasing Limited* Canon’s Court, 22 Victoria Street, Hamilton, HM 12 Aircraft financing Bermuda 100% British Airways Employee Benefit Trustees (Jersey) Limited Queensway House, Hilgrove Street, St Helier, JE1 1ES Jersey 100% INTERNATIONAL AIRLINES GROUP Annual Report and Accounts 2016

217 Name and address Principal activity Country of Incorporation Percentage of equity owned British Airways Finance (Jersey) Limited Partnership 13 Castle Street, St Helier, JE4 5UT Jersey 100% British Airways Holdings B.V. Atrium, Strawinskylaan 3105, Amsterdam, 1077 ZX Netherlands 100% British Airways Holdings Limited* 13 Castle Street, St Helier, JE4 5UT British Airways Holidays Limited* Waterside, PO Box 365, Harmondsworth, UB7 0GB British Airways Interior Engineering Limited* Waterside, PO Box 365, Harmondsworth, UB7 0GB British Airways Leasing Limited* Waterside, PO Box 365, Harmondsworth, UB7 0GB British Airways Maintenance Cardiff Limited* Waterside, PO Box 365, Harmondsworth, UB7 0GB Holding company Jersey 100% Package holidays England 100% Aircraft maintenance England 100% Aircraft financing England 100% Aircraft maintenance England 100% British Airways Pension Trustees (No 2) Limited Whitelocke House, 2-4 Lampton Road, Hounslow, Middlesex, TW3 1HU England 100% British Midland Airways Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% British Midland Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% Compañía Explotación Aviones Cargueros Cargosur, S.A. Calle Martínez Villergas 49, Madrid, 28027 Spain 100% Compañía Operadora de Corto Y Medio Radio Iberia Express, S.A.* Calle Alcañiz 23, Madrid, 28006 Airline operations Spain 100% Diamond Insurance Company Limited 1 st Floor, Rose House, 51-59 Circular Road, Douglas, IM1 1RE Isle of Man 100% Dirnan Insurance Company Limited Canon’s Court, 22 Victoria Street, Hamilton, Bermuda, HM 12 Bermuda 100% Flyline Tele Sales & Services GmbH Hermann Koehl-Strasse 3, Bremen, 28199 Germany 100% Gatwick Ground Services Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% IAG Cargo Limited* Carrus Cargo Centre, PO Box 99, Sealand Road, London Heathrow Airport, Hounslow, TW6 2JS IAG GBS Limited* Waterside, PO Box 365, Harmondsworth, UB7 0GB IAG GBS Poland sp z.o.o.* ul. Opolska 114, Krakow, 31 -323 IB Opco Holding, S.L. Calle Martínez Villergas 49, Madrid, 28027 Iberia México, S.A.* Ejército Nacional 436, 9 th Floor, Colonia Chapultepec-Morales, Mexico City, 11570 Iberia Tecnología, S.A.* Calle Martínez Villergas 49, Madrid, 28027 Iberia Líneas Aéreas de España, S.A. Operadora* Calle Martínez Villergas 49, Madrid, 28027 Air freight operations England 100% IT, finance and procurement services England 100% IT, finance and procurement services Poland 100% Holding company Spain 100% 2 Storage and custody services Mexico 100% Holding company Spain 100% Airline operations and maintenance Spain 100% 2 Illiad Inc Suite 1300, 1105 N Market Street, PO Box 8985, Wilmington, Delaware, 19899 USA 100% Openskies SASU* 3 Rue le Corbusier, Rungis, 94150 Airline operations France 100% Overseas Air Travel Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% Remotereport Trading Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% Strategic Report Corporate Governance Financial Statements Additional Information www.iairgroup.com

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    INTERNATIONAL AIRLINES GROUP The be

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    Strategic report “2016 was a chal

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    3 Chairman’s letter A firm focus

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    5 Q A And, importantly, we have to

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    7 IAG combines the leading airlines

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    9 Operating highlights British Airw

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    11 Business model and strategy Maxi

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    13 4 5 6 Grow share of Europeto-Afr

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    15 The performance indicators prese

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    17 IT This year significant work ha

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    19 and additional summer aircraft a

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    21 This is why we have recently lau

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    23 Aer Lingus Making the most of ou

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    25 IAG Cargo Resilient performance

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    27 Risk management and principal ri

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    29 Risk Potential impact Management

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    31 Risk Potential impact Management

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    33 Financial overview A significant

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    35 However, continued weakness in t

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    37 Exchange impact before exception

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    39 By supplier cost category: Handl

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    41 Capacity 21% 11% 8% 60% Operatin

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    43 Cash flow € million 2016 2015

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    45 Sustainability Committed to our

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    47 UN Sustainable Development Goals

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    49 Aspect and link to SDGs Noise Wa

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    51 Air quality - electric tug trial

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    “2016 has really tested the Group

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    55 I think we can be very proud tha

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    57 James Lawrence Non-Executive Dir

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    59 The Group operating companies Av

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    61 The Board Secretary is Álvaro L

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    63 Induction programme New director

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    65 Other statutory information Dire

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    67 The significant shareholders of

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    69 Report of the Audit and Complian

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    71 ICFR, which is a Spanish Corpora

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    73 The Committee’s responsibiliti

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    75 Report of the Safety Committee D

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    77 Despite a growth in share price

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    79 The table below summarises the m

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    81 Malus and Clawback Provisions Th

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    83 Service contracts and exit payme

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    85 Annual Remuneration Report Commi

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    87 Additional explanations in respe

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    89 IAG PSP Award 2014 The IAG PSP a

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    91 Statement of Voting The table be

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    93 IAG’s total shareholder return

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    95 The second performance condition

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    97 Incentive Award Deferral Plan Th

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    Strategic Financial Statements Repo

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    101 Consolidated statement of other

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    103 Consolidated cash flow statemen

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    105 Consolidated statement of chang

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    107 the Income statement. All other

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    109 b Other interest-bearing deposi

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    111 Employee leaving indemnities an

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    113 IAG has initiated a project to

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    115 For the year to December 31, 20

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    117 7 Auditors’ remuneration The

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    119 For the year to December 31, 20

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    121 c Reconciliation of the total t

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    123 13 Property, plant and equipmen

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    125 16 Intangible assets and impair

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    127 Basis for calculating recoverab

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    129 19 Trade and other receivables

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    131 2 Floating rate euro mortgage l

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    133 depending on whether the employ

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    135 At December 31, 2016 the Group

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    137 27 Financial instruments a Fina

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    139 The carrying amounts and fair v

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    141 December 31, 2015 Financial ins

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    143 31 Other reserves and non-contr

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    145 Defined benefit schemes i. APS

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    147 d Fair value of scheme assets A

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    149 e Present value of scheme liabi

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    151 33 Contingent liabilities and g

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    Spanish corporate governance report

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    155 Indicate the most significant m

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    157 Explain any significant changes

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    159 B. SHAREHOLDERS’ MEETING B.1

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    161 C.1.3 Complete the following ta

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    163 Individual or corporate name of

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  • Page 231 and 232: Shareholder information Registered
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