IAG Investor Relations

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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.

Bank of America Merrill Lynch Buy 345.60 345.60 - 520.00 Reiterates

fred - i must confess i really don't like BA though i guess they're one better than iberia ..... that said, i don't like domino's either, but assuredly hold those (sipp)

Date Broker New target Recomm.
28 Oct Deutsche Bank N/A Buy
27 Oct Credit Suisse 618.00 Outperform
24 Oct Credit Suisse 618.00 Outperform
24 Oct Cantor... 470.00 Hold
23 Oct Credit Suisse 618.00 Outperform
20 Oct Liberum Capital 550.00 Buy

Directorate Change

3rd Quarter Results

IAG period highlights on results:

· Third quarter operating profit €900 million (2013: €690 million) before exceptional items, €210 million better than last year
· At constant currency, third quarter passenger unit revenue down 0.9 per cent and non-fuel unit costs down 4.5 per cent
· Revenue for the quarter up 8.5 per cent to €5,866 million, up 6.9 per cent at constant currency
· Fuel unit costs for the quarter down 7.5 per cent at constant currency
· Operating profit for the nine months €1,130 million (2013: €657 million) before exceptional items, €473 million better than last year
· Exceptional charge of €82 million for currency re-evaluation
· Cash of €5,064 million at September 30, 2014, up €1,431 million on 2013 year end
· Adjusted gearing down 4 points to 46 per cent

Liberum Capital Buy 410.60 550.00 550.00 Reiterates

Cantor Fitzgerald Hold 410.60 470.00 470.00 Reiterates

Capital Markets Day & Dividend Statement

At its Capital Markets Day today (November 7, 2014) IAG will update the market with the following information:

· Long-term planning goals for 2016-2020 include:

o Return on Invested Capital (real terms) of 12%+
o An operating profit margin of 10% to 14%
o Average EPS growth of 10%+ per annum
o EBITDAR of approximately €5bn average per annum
o Capex of €2bn to €3bn per annum
o Equity free-cash flow of €1bn to €1.5bn per annum
o ASK growth of approximately 3% to 4% per annum
o Gearing to be in the investment grade zone

· Dividend policy statement:

o It has been the stated intention of IAG to distribute regular dividends to our shareholders in the medium and long term, in an amount appropriate to market conditions, depending on a number of factors, including but not limited to, the earnings of the company, financial conditions, cash requirements and prospects and legal requirements.

o The Company has made significant progress during 2014 and we remain confident in meeting our 2015 financial targets which we see as the trigger to introducing a dividend.

o Therefore we anticipate making a declaration in 2015 as the first step in our plan to introduce a sustainable dividend payment.

o The initial dividend would be based on a payout ratio of 25% of our underlying profit after tax.

The presentations from the Capital Markets Day can be accessed via www.iairgroup.com and a webcast of the event will be available today from 0830 GMT/0930 CET.

Traffic Statistics October 2014

OCTOBER 2014 - IAG GROUP TRAFFIC AND CAPACITY STATISTICS

§ In October 2014, Group traffic measured in Revenue Passenger Kilometres increased by 7.5 per cent versus October 2013; Group capacity measured in Available Seat Kilometres rose by 7.7 per cent.

§ Group premium traffic for the month of October increased by 6.9 per cent compared to the previous year.

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My fingers are too twitchy to-day.

Just closed my short. Will watch for a while.

Trade-able intra-day.

Just closed my short. Will watch for a while.

Trade-able intra-day.

Liberum Capital Buy 413.90 413.90 550.00 600.00 Reiterates

7 year high @458.10p

i have EZJ and FLYB in lieu

IAG International Consolidated Airlines, benefiting from cheap oil and benefits go right down to the bottom line. GONE LONG

Charles Stanley Brokers. 28/11/2014

International Consolidated Airlines Group (ICAG: 458p) was one of several airline stocks
to power ahead on the news from Vienna and the BA/Iberia owner ended the day with a gain
of 4.8% (in busy trade). The chart reveals that this forms part of a larger move to the upside
that has seen the share price rally by 41% in the space of six weeks and, in the process,
reach a seven and a half year high. It now looks extremely overbought and some profit-taking
is possible but the bull case is still very much intact.

decided to join you all at 461.0

Bought in yesterday.

Haze, there is a God on my side sometimes!

This magnitude of fall in the oil price will more than DOUBLE the EBITDA of IAG ...imo