Turbulent times at British Airways and Iberia owner IAG.
Following a 24pc nosedive in the share price since the start of March, the aviation giant is considering axing its shareholder benefits scheme, which gives investors with 200 shares or more a 10pc discount on flights.
The scheme, which was introduced at the time of the BA privatisation in 1987, only applies to former BA shareholders, and not former Iberia shareholders or investors since the BA-Iberia merger three years ago.
Nevertheless, the demise of the incentive, which IAG is currently “evaluating”, could send retail investors into something of a tailspin. “If they do axe this small perk, it will needle a whole string of small shareholders,” says a source.
Fasten your seatbelts.
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An interesting tale in the Algarve Daily News, which reports that one Luis Durao Barroso has landed a top job at the struggling Portuguese central bank.
Unusually, young Mr Barroso, 31, was taken on “without having to suffer the stress of a job interview”, since “no other candidates were sought”.
No doubt the London School of Economics graduate, who has completed two internships in law firms, will do a fine job in the Bank of Portugal’s Department of Prudential Supervision.
But perhaps the fact that his father, Jose Manuel Barroso, is president of the European Commission didn’t hurt.
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Bull by name and bullish when it comes to his executive Ladbrokes stake.
Ian Bull, the bookmaker’s finance chief, yesterday exercised almost 470,000 share options, increasing the value of his holding to more than £910,000.
Given this week’s 50pc pre-tax profits fall, let’s hope it’s a safe bet.
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Readers have asked for an update on David Haigh, the former Leeds United director who remains in a Dubai jail after being accused of fraud by his former employer, Gulf Finance House Capital.
Sadly, it’s not good news. Mr Haigh, whose assets in Dubai have already been frozen, has now had that freezing order extended to England and Wales too. That includes his house in Cornwall and his investment business Sport Capital, based in Guernsey.
Mr Haigh denies the allegations, claiming he was “framed”.
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harriet.dennys@telegraph.co.uk
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