IAG said Donal Moriarty, Aer Lingus’ chief corporate affairs officer, will become the interim CEO while a permanent replacement is found. Its stock fell as much as 2% in London on Monday before paring some of the losses.
“Sean Doyle will stop working to make immediate progress given that British Airways faces the toughest challenge in its history as demand for international travel has decreased and quarantine restrictions continue to restrict reservations,” said Susanna Streeter, senior market analyst at Hargreaves. Lansdown, in a research note on Monday.
“We are facing the worst crisis our industry is facing and I am confident that these internal promotions will ensure that IAG is well positioned to emerge in a strong position,” IAG CEO Luis Gallego said in a statement on Monday.