British Airways (BA, London Heathrow) and Iberia (IB, Madrid Barajas) parent International Airlines Group has announced that its fully owned subsidiary Veloz Holdco would have made an improved offer to acquire the remaining 54.15% in Vueling Airlines (VY, Barcelona El Prat) IAG does not already own. The board of directors of Vueling has rejected the initial proposal saying IAG’s offer of 7 EUR per share would be a too low valuation for the successful low-cost carrier. IAG has now increased its offer to 9.25 EUR per share.