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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.

StockMarketWire.com
International Consolidated Airlines Group will announce a considerable upgrade to its long term return and equity cash flow objectives at its Capital Markets Day today.

Long-term planning goals for 2016-2020 include: - Return on Invested Capital (real terms) targeting sustainable 15% (compared to 12%+ previously)

- An operating profit margin of 12% to 15% (compared to 10% to 14% previously)

- Average EPS growth of 12%+ per annum (compared to 10%+ per annum previously)

- EBITDAR of approximately €5.6bn average per annum (compared to €5bn average per annum previously)

- Capex: targeting less than €2.5bn per annum (compared to €2bn to €3bn per annum previously)

- Equity free-cash flow of €1.5bn to €2.5bn per annum (compared to €1bn to €1.5bn per annum previously)

- ASK growth of approximately 3% to 4% per annum (no change)

- Gearing to be in the investment grade zone (no change) In addition, IAG also announces the following changes in the executive management teams within its operating companies. Keith Williams will be retiring as Executive Chairman of British Airways in April next year and Alex Cruz, currently chairman and Chief Executive Officer of Vueling, will be replacing him. Also, Nick Swift will be stepping down as Chief Financial Officer of British Airways in April next year and Steve Gunning, current Chief Executive Officer of IAG Cargo, will be replacing him. Further appointments will be announced in due course.

Nomura Buy 585.75 750.00 800.00 Retains

DECEMBER 2015 - GROUP TRAFFIC AND CAPACITY STATISTICS

§ Group traffic in December, measured in Revenue Passenger Kilometres, increased by 10.5 per cent versus December 2014 (up 3.8 per cent on a pro-forma basis); Group capacity measured in Available Seat Kilometres rose by 12.1 per cent (up 4.6 per cent on a pro-forma basis).

§ Including Aer Lingus, for the full year IAG airlines carried almost 95 million passengers in 2015.

§ Group premium traffic for the month of December decreased by 0.3 per cent on a pro-forma basis.

§ The terrorist incidents in Paris in November and the US Government travel advisory had a temporary negative impact on load factors and premium traffic in December. However, our guidance for full-year 2015 operating profit, issued with our third quarter results, remains unchanged.

Credit Suisse Outperform 543.50 852.00 852.00 Reiterates

Deutsche Bank Buy 543.50 760.00 760.00 Reiterates

I would be happy to sell at the target price.
8-)

Barclays Capital Overweight 547.25 750.00 750.00 Reiterates

Final Results

FULL YEAR RESULTS ANNOUNCEMENT

International Consolidated Airlines Group (IAG) today (February 26, 2016) presented Group consolidated results for the year to December 31, 2015.

IAG period highlights on results:

· Fourth quarter operating profit €540 million excluding Aer Lingus and before exceptional items (2014: operating profit of €260 million), including Aer Lingus €530 million
· Passenger unit revenue for the quarter up 3.1 per cent. Excluding Aer Lingus and at constant currency down 3.7 per cent including approximately 1 point adverse impact from Paris attacks
· Non-fuel unit costs before exceptional items for the quarter up 2.4 per cent. Excluding Aer Lingus and at constant currency down 3.9 per cent
· Fuel unit costs before exceptional items for the quarter down 13.4 per cent, down 23.9 per cent at constant currency
· Operating profit for the year to December 31, 2015 of €2,300 million excluding Aer Lingus and before exceptional items (2014: operating profit of €1,390 million), up 65 per cent, including Aer Lingus €2,335 million
· Revenue for the year up 13.3 per cent to €22,858 million and passenger unit revenue for the year down 3.5 per cent at constant currency
· Fuel unit costs for the year before exceptional items down 6.3 per cent, down 17.2 per cent at constant currency
· Non-fuel unit costs for the year before exceptional items up 4.3 per cent, down 3.9 per cent at constant currency
· Cash of €5,856 million at December 31, 2015 was up €912 million on 2014 year end, including €772 million from Aer Lingus
· Adjusted gearing up 3 points to 54 per cent and adjusted net debt to EBITDAR remained constant at 1.9 times including Aer Lingus

"Dividends

The Board is proposing a final dividend to shareholders of 10 euro cents per share, which brings the full year dividend to 20 euro cents per share. The final dividend will be paid, subject to shareholder approval, on July 4, 2016 to shareholders on the register on July 1, 2016."

Cantor Fitzgerald Hold 550.25 - - Reiterates

Liberum Capital Buy 550.25 700.00 700.00 Retains

TPs.

26-Feb-16 UBS Buy 537.50p - 800.00p Reiteration
19-Feb-16 Credit Suisse Outperform 545.50p - 852.00p Reiteration
15-Feb-16 Bank of America Buy 504.50p 610.00p 610.00p Upgrade
03-Feb-16 UBS Buy 523.50p - 800.00p Reiteration


-=-=-=-==-=

Sometimes wonder what the market wants.

.

And so it continues....

02 Mar 15 Jefferies International Buy 552.75 700.00 700.00 Reiterates
02 Mar 16 RBC Capital Markets Outperform 552.75 660.00 660.00 Reiterates

FEBRUARY 2016 - GROUP TRAFFIC AND CAPACITY STATISTICS

§ Group traffic in February, measured in Revenue Passenger Kilometres, increased by 15.8 per cent versus February 2015 (up 9.5 per cent on a pro-forma basis); Group capacity measured in Available Seat Kilometres rose by 14.0 per cent (up 7.2 per cent on a pro-forma basis).

§ Group premium traffic for the month of February increased by 7.0 per cent on a pro-forma basis.

Goldman Sachs Buy 532.25 775.00 810.00 Reiterates

Obvious drop on today's news .

IAG traffic figures up

StockMarketWire.com

International Consolidated Airlines Group traffic in March, measured in revenue passenger kilometres, increased by 13.9% from a year ago (up 6.7% on a pro-forma basis).

Group capacity measured in available seat kilometres rose by 12.5% (up 5.4% on a pro-forma basis). Group premium traffic for the month of October increased by 7.0% on a pro-forma basis.



At 3:10pm: (LON:IAG) International Consolidated Airlines Group share price was -8.25p at 548.25p


Story provided by StockMarketWire.com

Qatar Airways says raises IAG stake to under 12 pct from 9.99 pct

And the sp tanks
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AG operating profits soar

StockMarketWire.com

International Consolidated Airlines Group's first quarter operating profit rose to EUR155 million before exceptional items from EUR25 million a year ago and excluding Aer Lingus rose to EUR181 million.

IAG said revenue trends in quarter two have been affected by the aftermath of the Brussels terrorist attacks, as well as some softness in underlying premium demand.

As a result, IAG has moderated its short term capacity growth plans. The group also expects to reduce its underlying ex-fuel unit costs for the full year by around one per cent. Consequently, in 2016, IAG still expects to generate an absolute operating profit increase similar to 2015.

Q1 assenger unit revenue for the quarter down 3.5% and at constant currency down 4.7% (excluding Aer Lingus and at constant currency down 5.2 per cent).

Non-fuel unit costs for the quarter were up 1.3 per cent and at constant currency up 0.6 per cent (excluding Aer Lingus and at constant currency down 0.5 per cent).

Fuel unit costs before exceptional items for the quarter were down 23.4 per cent, down 30.4 per cent at constant currency.

Adjusted gearing remained constant at 54 per cent and adjusted net debt to EBITDAR down 0.1 points to 1.8 times

Chief executive Willie Walsh said: "We're reporting an operating profit of �155 million before exceptional items which is up by �130 million compared to last year. This is a good performance with a strong increase in what is traditionally the weakest quarter. Total revenue was up 7.9 per cent and total cost per ASK decreased by 6.1 per cent.

"January and February's revenue was in line with Q4 2015 trends. March revenue was affected by the timing of Easter and the Brussels terrorist attacks with the latter continuing into quarter two.

"Our productivity has improved 5.9 per cent and the underlying non-fuel unit costs performance continued to show improvement across our companies

need to look closer, but may be worth a punt just as was WPP yesterday

was tempted to buy as thought fall was o'done but perhaps not on consideration .....

IAG: falls as Brussels attacks dent demand
29 Apr 2016 - 08:54

* IAG falls 3.9 pct after the airline group says it will scale back expansion plans after weaker demand following the Brussels terror attacks
* CEO Willie Walsh says trading in line in Jan and Feb but became more difficult at the end of the quarter [nL5N17W1DE]
* Q1 operating profit 155 mln euros v 145 mln euros expected by analysts
* Cantor Fitzgerald says guidance on the cautious side, with downgrades rather than upgrades more likely following results
* Top faller and most traded by average 30-day volumes on FTSE 100 < .FTSE>
* European airline stocks all lower on Friday