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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  International Consolidated Airlines Group, SA    IAG   ES0177542018

INTERNATIONAL CONSOLIDATED AIRLINES GROU

(IAG)
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Delayed Quote. Delayed London Stock Exchange - 05/29 11:35:11 am
228.5 GBX   -7.26%
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Britain-based airlines seek industry tax breaks in coronavirus battle

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03/26/2020 | 01:53am EDT
Easyjet and British Airways planes are pictured at Gatwick airport

A representative body for airlines based in Britain has written to its transport minister seeking industry-specific tax and air traffic fee holidays to help survive a coronavirus pandemic that has brought air travel to a standstill.

easyJet, IAG-owned British Airways and Virgin Atlantic have no revenue coming in, forcing them to ground hundreds of planes, and putting thousands of jobs and the future of the sector at risk.

Airlines UK asked Transport Minister Grant Shapps for a six-month suspension in air passenger duty, and a waiver of air traffic control and related charges through the rest of 2020, as well as relief from EU flight compensation rules.

"We believe a number of such measures are necessary to enable aviation both to deal with the ongoing crisis in the short-term but also to support and accelerate a strong UK recovery later in the year," it said in Wednesday's letter.

The request came after Finance Minister Rishi Sunak's blow to hopes for a specific aviation rescue package when he said the government would only provide support if airlines could not raise capital from other sources, such as existing investors.

Airlines UK also said its members were desperate for more information on how to access a scheme the government said would reimburse 80% of the wage costs of furloughed workers.

"Please can we urge that further clarity is provided as soon as possible owing to the severe cash pressures that airlines are facing," the industry body said in the letter.

Airlines UK, which also represents Jet2, TUI, Norwegian and Ryanair, said it hoped the government would consider the temporary tax break and dropped charges in ongoing talks.

(Reporting by Sarah Young; Editing by Clarence Fernandez)

Stocks mentioned in the article
ChangeLast1st jan.
EASYJET PLC -8.11% 680 Delayed Quote.-52.26%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, SA -7.26% 228.5 Delayed Quote.-63.44%
TUI AG -16.58% 4.85 Delayed Quote.-57.46%
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Financials
Sales 2020 11 573 M 12 854 M 12 854 M
Net income 2020 -2 951 M -3 278 M -3 278 M
Net Debt 2020 13 137 M 14 591 M 14 591 M
P/E ratio 2020 -1,42x
Yield 2020 -
Capitalization 5 044 M 5 601 M 5 602 M
EV / Sales 2019
EV / Sales 2020 1,57x
Nbr of Employees 64 642
Free-Float 74,3%
Chart INTERNATIONAL CONSOLIDATED AIRLINES GROUP, SA
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International Consolidated Airlines Group, SA Technical Analysis Chart | MarketScreener
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Technical analysis trends INTERNATIONAL CONSOLIDATED
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 18
Average target price 4,00 €
Last Close Price 2,54 €
Spread / Highest target 108%
Spread / Average Target 57,3%
Spread / Lowest Target -12,4%
EPS Revisions
Managers
NameTitle
William Matthew Walsh Chief Executive Officer & Director
Antonio Vázquez Romero Chairman
Stephen William Lawrence Gunning Chief Financial Officer & Executive Director
John Gibbs Chief Information Officer
Kieran C. Poynter Independent Non-Executive Director
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