Iberia (IB, Madrid Barajas) as well as British Airways (BA, London Heathrow) and Vueling Airlines (VY, Barcelona El Prat) parent, the International Airlines Group (IAG), has reduced its minority stake in British regional carrier, flybe. (2002) (Exeter), to less than 3%.

IAG originally controlled a 14.6% stake in the carrier after offloading its BA Connect (Manchester International) subsidiary to Flybe. in 2007. Thereafter, the Group's investment was diluted to 5% following Flybe.'s new share issuance earlier this year.

"This decision is no reflection of our view of Flybe. which is making good progress with its turnaround plan," IAG told the Wall Street Journal. "This is the right time to sell."