Willie Walsh has decided to retire and will leave his post as CEO of IAG (International Airlines Group) and chief executive of the group on March 26, leaving the company permanently on June 30. Walsh will be replaced in office by the current CEO of Iberia, Luis Gallego.

The company has said that Luis Gallego’s successor at Iberia will be announced in due course.

“Willie Walsh has led the merger and successful integration of British Airways and Iberia to form IAG. Under his leadership, IAG has become one of the leading global airline groups,” said IAG President Antonio Vázquez.

IAG owns Aer Lingus, British Airways, Iberia and Vueling.

Mr Walsh, a former Aer Lingus chief executive and pilot, said he planned to retire before his 60th birthday on October 25, 2021.

He added that it had been a privilege to have been instrumental in the creation and development of IAG.