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International Airlines Group (IAG) Fundamentals


International Consolidated Airlines Group, S.A., also known as International Airlines Group, is the name of an Anglo-Spanish holding company formed on 8 April 2010 as a result of the proposed merger between British Airways and Iberia.


The new company will be the third largest airline holding company in the world by revenue,with 419 aircraft transporting passengers between 200 destinations.The new company will carry over 62 million passengers per year, according to British Airways executives.Both airlines will, however, continue to operate under their current brand names. British Airways shareholders will take a 55% stake in the new company, while Iberia shareholders will own the remaining 45% stake.

Cantor Fitzgerald Hold 401.25 394.20 470.00 470.00 Reiterates

Deutsche Bank Buy 401.25 394.20 506.00 506.00 Reiterates

Not sure if there is much more to go on the upside.

Airlines are fickle to say the least. Appears like this one has already arrived!!!!

1st Quarter Results

THREE MONTHS RESULTS ANNOUNCEMENT

International Consolidated Airlines Group (IAG) today (May 9, 2014) presented Group consolidated results for the three months to March 31, 2014.

IAG period highlights on results:

· First quarter operating loss €150 million (2013: operating loss of €278 million) before exceptional items
· Revenue for the quarter up 6.7 per cent to €4,203 million, up 7.6 per cent at constant currency
· Non-fuel costs up 3.8 per cent, up 4.8 per cent at constant currency
· At constant currency, first quarter passenger unit revenue down 1.4 per cent (excluding Vueling down 0.5 per cent) and non-fuel unit costs down 6.2 per cent (excluding Vueling down 4.2 per cent)
· Fuel unit costs for the quarter down 8.9 per cent, 7.4 per cent at constant currency
· Cash of €4,004 million at March 31, 2014 was up €371 million on 2013 year end
· Adjusted gearing remains at 50 per cent

APRIL 2014 - IAG GROUP TRAFFIC AND CAPACITY STATISTICS

APRIL 2014 - IAG GROUP TRAFFIC AND CAPACITY STATISTICS

§ In April 2014, Group traffic measured in Revenue Passenger Kilometres increased by 18.0 per cent versus March 2013 (up 9.5 per cent on a pro-forma basis); Group capacity measured in Available Seat Kilometres rose by 16.6 per cent (up 7.6 per cent on a pro-forma basis).

§ Group premium traffic for the month of April increased by 4.0 per cent compared to the previous year.

§ For current outlook please see Quarter One results presentation.


9 May 2014



STRATEGIC DEVELOPMENTS

In April, Iberia signed labour agreements with its pilots, cabin crew and ground staff unions after ratification by the unions' assemblies. Iberia also announced that it is gradually re-opening some routes including long-haul services to Santo Domingo and Montevideo as well as short-haul flights to Istanbul, Amsterdam, Athens and Stockholm.

British Airways announced the location of the world's first facility to convert landfill waste to jet fuel. The airline has committed to buying all of the jet fuel from the plant being built in Essex by Solena Fuels which will go into production in 2017.

Vueling has announced new flights from France to Catania, Palermo and the new route between Rennes and Bastia. The airline will also operate from Barcelona to Thessaloniki and Yerevan (Armenia) and from Seville to Malta.

Traffic Statistics May 2014

In May 2014, Group traffic measured in Revenue Passenger Kilometres increased by 7.3 per cent versus May 2013; Group capacity measured in Available Seat Kilometres rose by 8.0 per cent.

Group premium traffic for the month of May increased by 9.7 per cent compared to the previous year.

Underlying market conditions remain unchanged from those published at Quarter One results.

STRATEGIC DEVELOPMENTS
On 19 May, British Airways announced five new routes from Gatwick to Cagliari in Sardinia, Crete and Rhodes in Greece, and Bodrum and Dalaman in Turkey. The airline will start these services in April 2015.

In June, Iberia will add additional summer service from Madrid to Chicago, increasing to 10 weekly services from seven. In addition, Iberia will increase year-round service to Panama, one of Latin America’s fastest growing markets, increasing from five weekly services to six in June and to seven in July.

On 1 May, Vueling started operations from its new base in Brussels. The airline has also begun services between Rome and Catania, connecting the capital with Southern Italy.

Credit Suisse Outperform 403.15 403.70 587.00 587.00 Reiterates

Gatwick Airport back in the black as it pushes for a new runway

Deutsche Bank Buy 370.50 370.50 506.00 506.00 Reiterates

Barclays Capital Overweight 373.00 373.00 500.00 500.00 Reiterates

British Airways Has Even Harsher Rules About Smartphones Than The US

You know what i hate health and safety and the way we live now

but i kind of agree with that ,there are new ways of making bombs with phones and laptops and the simple answer is turn the damn thing off and don't use it before or while you fly , it's simple .

Jefferies International Buy 331.70 331.70 510.00 480.00 Retains

Five jetliners are to be built every day for the next 20 years as aircraft manufacturers gear up to handle 7 billion passengers a year by 2033, by which time the annual number of internal flights in China will have overtaken the domestic US market. These are headlines from the forecasters at Boeing, who believe that whatever gets thrown at the aviation industry - in the past 20 years it has been recessions, pandemics, Middle Eastern wars and 9/11 - the amount of air travel will rise at 5 per cent a year, easily outstripping global GDP growth, which is predicted to rise at 3.2 a year. - The Times

IAG Statement on Iberia Consultation Process

International Airlines Group announces that Iberia has today informed its employees and trade unions that it intends to start a consultation period for a collective redundancy process which will involve up to 1,581 jobs.

This option was discussed as part of the collective bargaining negotiations with the airline's unions last April. It is a continuation of Iberia's transformation plan to introduce permanent structural changes across the airline enabling it to grow profitably in the future.

Deutsche Bank Buy 332.80 332.80 506.00 470.00 Reiterates

Long here - maybe due a tick up and a gap to fill.

Half Year results August 1st.

IAG - Iberia reaches agreement with trade unions

IAG STATEMENT ON IBERIA

International Airlines Group announces that Iberia and its trade unions have today reached an agreement on collective redundancies for pilots and ground staff. This could lead to a reduction of up to 1,427 jobs at the airline.

The agreement enables Iberia to continue with its transformation plan to introduce permanent structural changes across the airline and to facilitate profitable growth in the future.

Iberia's cabin crew staff will not be affected by this process.

Half Yearly Report

SIX MONTHS RESULTS ANNOUNCEMENT

International Consolidated Airlines Group (IAG) today (August 1, 2014) presented Group consolidated results for the six months to June 30, 2014.

IAG period highlights on results:

· Second quarter operating profit €380 million (2013: operating profit of €245 million before exceptional items), €135 million better than last year
· At constant currency, second quarter passenger unit revenue down 0.4 per cent (excluding Vueling up 0.1 per cent) and non-fuel unit costs down 4.4 per cent (excluding Vueling down 2.5 per cent)
· Revenue for the quarter up 6.7 per cent to €5,086 million, up 8.2 per cent at constant currency
· Fuel unit costs for the quarter down 9.3 per cent, 5.4 per cent at constant currency
· Operating profit for the half year €230 million (2013: operating loss €33 million before exceptional items), €263 million better than last year
· Cash of €4,904 million at June 30, 2014 was up €1,271 million on 2013 year end
· Adjusted gearing down 4 points to 46 per cent

New Longhaul Aircraft for Iberia

International Airlines Group (IAG) is converting eight Airbus A350-900 aircraft options into firm orders and securing eight A330-200 aircraft for Iberia.

These aircraft will replace 16 A340 family aircraft in Iberia's longhaul fleet and will be delivered between 2015 and 2020.

Willie Walsh, IAG chief executive, said: "Iberia has taken significant steps to restructure its business and the progress made so far means that we can bring new longhaul aircraft into the airline's fleet. These orders demonstrate our commitment to make Iberia competitive.

"Both aircraft will provide cost efficiencies and environmental benefits, enabling Iberia to replace its long haul fleet with modern and fuel efficient aircraft. The new technology and improved aerodynamics will lower fuel burn and CO2 emissions per seat by 18 per cent, as well as providing both noise and NOx performance advantages.

"Retaining an all Airbus longhaul fleet will also generate cost savings in maintenance and crewing".

IAG secured commercial terms for the A350 aircraft as part of the Group longhaul order announced in April 2013.

The eight A330 aircraft will be obtained either by converting existing options from the 2011 Airbus order or from the operating lease market, depending on financial and delivery terms.



ends

Deutsche Bank Buy 330.80 330.80 470.00 470.00 Reiterates

Cantor Fitzgerald Hold 329.80 330.80 470.00 470.00 Reiterates

Davy Research Neutral 329.80 330.80 - - Reiterates