Annual report and accounts 2016

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218 Group investments continued Name and address Santain Developments Limited Dublin Airport, Dublin Shinagh Limited Dublin Airport, Dublin Principal activity Country of Incorporation Percentage of equity owned Republic of Ireland 100% Republic of Ireland 100% Speedbird Insurance Company Limited* Canon’s Court, 22 Victoria Street, Hamilton, HM 12 Insurance Bermuda 100% Teleflight Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 100% The Plimsoll Line Limited* Waterside, PO Box 365, Harmondsworth, UB7 0GB Holding company England 100% Veloz Holdco, S.L. Pla de l’Estany 5, Parque de Negocios Mas Blau II, El Prat de Llobregat, Barcelona, 08820 Spain 100% Vueling Airlines, S.A.* Pla de l’Estany 5, Parque de Negocios Mas Blau II, El Prat de Llobregat, Barcelona, 08820 Airline operations Spain 99% British Mediterranean Airways Limited Waterside, PO Box 365, Harmondsworth, UB7 0GB England 99% Compañía Auxiliar al Cargo Exprés, S.A.* Centro de Carga Aérea, Parcela 2-5 Nave 6, Madrid, 28042 Iberia Desarrollo Barcelona, S.L.* Torre Tarragona, Planta 15, Calle Tarragona 161, Barcelona, 08014 Auxiliar Logística Aeroportuaria, S.A.* Centro de Carga Aérea, Parcela 2-5 Nave 6, Madrid, 28042 * Principal subsidiaries Cargo transport Spain 75% Airport infrastructure development Spain 75% Airport logistics and cargo terminal management Spain 75% 1 The Group holds 49.9% of the total number of voting rights and 99.65% of the total nominal share capital in British Airways Plc, such stake having almost 100% of the economic rights. The remaining nominal share capital and voting rights, representing 0.35% and 50.1% respectively, correspond to a trust established for the purposes of implementing the British Airways nationality structure. 2 The Group holds 49.9% of the total nominal share capital and the total number of voting rights in IB Opco Holding, S.L. (and thus, indirectly, in Iberia Líneas Aéreas de España, S.A. Operadora), such stake having almost 100% of the economic rights in these companies. The remaining shares, representing 50.1% of the total nominal share capital and the total number of voting rights belong to a Spanish company incorporated for the purposes of implementing the Iberia nationality structure. INTERNATIONAL AIRLINES GROUP Annual Report and Accounts 2016
219 Associates Name and address Handling Guinea Ecuatorial S.A. Malabo Bioko Norte International Airport, Apartado de Correos 92, Malabo Country of Incorporation Percentage of equity owned Equatorial Guinea 51% Empresa Hispano Cubana de Mantenimiento de Aeronaves, Ibeca, S.A. Avenida de Vantroi y Final, Aeropuerto de Jose Martí, Ciudad de la Habana Cuba 50% Empresa Logística de Carga Aérea, S.A. Carretera de Wajay km 15, Aeropuerto de Jose Martí, Ciudad de la Habana Cuba 50% Multiservicios Aeroportuarios, S.A. Avenida de Manoteras 46, 2 nd Floor, 28050, Madrid Spain 49% Dunwoody Airline Services (Holdings) Limited Building 70, Argosy Road, East Midlands Airport, Castle Donnington, Derby, DE74 2SA England 40% Sociedad Conjunta para la Emisión y Gestión de Medios de Pago EFC, S.A. José Ortega y Gasset 22, 3 rd Floor, 28006, Madrid Spain 43.5% Serpista, S.A. Cardenal Marcelo Spínola 10, 28016, Madrid Spain 39% Air Miles España, S.A. Avenida de Bruselas 20, Alcobendas, 28108, Madrid Spain 25% Joint ventures Name and address Propius Holding Limited PO Box 309, Ugland House, Grand Cayman, K41-1104 Available-for-sale financial assets The Group’s principal available-for-sale financial assets are as follows: Name and address Country of Incorporation Percentage of equity owned Currency Country of Incorporation Percentage of equity owned Cayman Islands 33.3% Shareholder’s funds (million) Profit/(loss) before tax (million) Servicios de Instrucción de Vuelo, S.L. Camino de la Muñoza 2, Madrid, 28042 Spain 19.9% Euro 45 2 The Airline Group Limited Brettenham House South, 5 th Floor, Lancaster Place, London, WC2N 7EN England 16.68% Comair Limited 1 Marignane Drive, Bonaero Park, 1619, Johannesburg South Africa 11.5% Pound sterling 287 32 South African rand 1,330 294 Adquira España, S.A. Plaza Cronos, 1 – 4 th Floor, Madrid, 28037 Spain 10.0% Euro 7 1 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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165 When reviewing board appointmen
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Page 175 and 176: 173 C.1.31 Indicate whether the con
Page 177 and 178: 175 C.1.36 No Outgoing auditor Indi
Page 179 and 180: 177 C.1.42 Indicate and, where appr
Page 181 and 182: 179 C.2 Board committees C.2.1 Give
Page 183 and 184: 181 f. To establish the appropriate
Page 185 and 186: 183 F. Other responsibilities: a. T
Page 187 and 188: 185 c) Steps taken during the year:
Page 189 and 190: 187 C.2.2 b) Functions The main fun
Page 191 and 192: 189 D.4 List any relevant transacti
Page 193 and 194: 191 E.2 Identify the bodies respons
Page 195 and 196: 193 Main risk Government interventi
Page 197 and 198: 195 Audit and Compliance Committee
Page 199 and 200: 197 The financial risk assessment i
Page 201 and 202: 199 F.3.2 Internal control policies
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Page 205 and 206: 203 6. Listed companies drawing up
Page 207 and 208: 205 21. The board of directors shou
Page 209 and 210: 207 37. When an executive committee
Page 211 and 212: 209 52. The terms of reference of s
Page 213 and 214: 211 IAG Remuneration Policy complie
Page 215 and 216: 213 Director Enrique Dupuy de Lôme
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Page 219: 217 Name and address Principal acti
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Page 225 and 226: 223 Operating margin Overall load f
Page 227 and 228: 225 In 2015, the definition of inve
Page 229 and 230: 227 Sustainability indicators Indic
Page 231 and 232: Shareholder information Registered
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Annual report and accounts 2016

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