HARRYCAT
- 05 Aug 2015 16:53
- 323 of 466
How about this for a negative view from Merrill Lynch:
"European airlines have in the last year effectively become a commodity offering with an addiction to empire-building. We believe the damaging effects of overcapacity should now be abundantly apparent and are impacting the fundamentals of the European airline industry. In fact, every airline in our coverage has now (via fierce price competition) reported underlying negative pricing growth and corresponding higher cost growth in either calendar Q1’15 or Q2’15. As ‘The Biggest Capex Cycle In History’ continues (i.e. +6% CAGR between 2014 & 2018 in global seat capacity for an industry that has barely seen +5% at any point in the last 20 years), the industry-wide negative ‘jaws’ (i.e. falling pricing coupled with rising costs) are beginning to open. We believe this will mean consensus downgrades for 2016; a year of high hedging and lofty YoY consensus EPS growth. We downgrade Lufthansa from Buy to Underperform. Moreover, we reinstate coverage of IAG with an Underperform rating.
We view IAG as similar to easyJet in many ways; both companies well loved by consensus and both are spear-headed by a best-in-class management team. We believe that consensus has been lulled into assuming that through some ‘paradigm shift investment philosophy’ that ‘this time is (somehow) different’ for IAG. We think the evidence suggests otherwise; we see a company whose underlying yield trends have started to fall (from high single digit levels only a few years ago). Moreover, without any confidence that recent cost savings are sustainable, we believe next year will see consensus EPS under-pressure. The stock at these levels is not ready for such an event."
skinny
- 05 Aug 2015 16:57
- 324 of 466
skinny
- 18 Aug 2015 16:01
- 325 of 466
skinny
- 18 Aug 2015 16:25
- 326 of 466
18 Aug 15 Credit Suisse Outperform 551.25 750.00 750.00 Reiterates
skinny
- 20 Aug 2015 07:27
- 327 of 466
Somewhat academic in the current market!
Nomura Buy 539.00 539.00 700.00 750.00 Retains
Fred1new
- 20 Aug 2015 07:34
- 328 of 466
Skinny,
Dreams, dreams!
skinny
- 26 Aug 2015 09:20
- 329 of 466
Barclays Capital Overweight 517.75 - 750.00 Resumes
skinny
- 26 Aug 2015 10:11
- 330 of 466
.
skinny
- 03 Sep 2015 15:34
- 331 of 466
AUGUST 2015 - IAG GROUP TRAFFIC AND CAPACITY STATISTICS
§ Group traffic in August, measured in Revenue Passenger Kilometres, increased by 8.6 per cent versus August 2014; Group capacity measured in Available Seat Kilometres rose by 6.1 per cent.
§ Group premium traffic for the month of August increased by 8.7 per cent compared to the previous year.
more....
skinny
- 09 Sep 2015 07:14
- 332 of 466
Deutsche Bank Buy 569.50 569.50 480.00 760.00 Reiterates
Barclays Capital Overweight 569.50 569.50 750.00 750.00 Resumes
skinny
- 09 Sep 2015 13:07
- 333 of 466
Friday, October 30, 2015 Q3 results.
skinny
- 14 Sep 2015 07:56
- 334 of 466
Credit Suisse Outperform 583.50 583.50 750.00 852.00 Reiterates
skinny
- 14 Sep 2015 10:49
- 335 of 466
Five month high @594.50p.
skinny
- 14 Sep 2015 13:33
- 336 of 466
Fred1new
- 07 Oct 2015 16:23
- 337 of 466
Why the drop?
Due to oil prices?
cynic
- 07 Oct 2015 17:45
- 338 of 466
a general downgrade on airlines from Credit Suisse on the basis of a steady recovery of oil prices from their lows
HARRYCAT
- 27 Oct 2015 11:47
- 339 of 466
Steady chart, cheap oil (assuming they haven't hedged too far ahead) and brokers all pretty upbeat....TP 750p from most of them. Yield is a bit on the skinny side for me!!!!
skinny
- 27 Oct 2015 11:52
- 340 of 466
Oi!
skinny
- 28 Oct 2015 07:05
- 341 of 466
SEPTEMBER 2015 - IAG GROUP TRAFFIC AND CAPACITY STATISTICS
§ Group traffic in September, measured in Revenue Passenger Kilometres, increased by 13.9 per cent versus September 2014 (up 4.7 per cent on a pro-forma basis); Group capacity measured in Available Seat Kilometres rose by 13.7 per cent (up 4.4 per cent on a pro-forma basis).
§ Group premium traffic for the month of September increased by 1.6 per cent on a pro-forma basis.
HARRYCAT
- 30 Oct 2015 09:28
- 342 of 466
Down 5%!!!!