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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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Germany's Lufthansa says not open to Qatar investment

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12/02/2019 | 05:03am EST
FILE PHOTO: A Qatar Airways Boeing 787 airplane is pictured at Leonardo da Vinci-Fiumicino Airport in Rome

Lufthansa responded coldly on Monday to a report that rival Qatar Airways was interested in taking a stake in or collaborating with the German airline.

The Gulf carrier, which holds minority stakes in airlines including IAG, Cathay Pacific, and China Southern Airlines, has been seeking to boost collaborations.

Its chief executive Akbar al-Baker was quoted by German news agency dpa on Sunday as saying he was interested in investing in Lufthansa to seize business opportunities in Europe's biggest economy.

"We did not have Lufthansa privatised in Germany to have it nationalised in Qatar," a Lufthansa spokesman said.

Initially, Qatar Airways would also look into a partnership with Lufthansa to ramp up air transport services and tourism in Germany, Al-Baker told dpa in Doha on the sidelines of a visit of the premier of regional state Lower Saxony to Qatar.

State-owned Qatar Airways declined to comment.

Lufthansa needs to limit ownership by shareholders from non-European Union member states to 49% to preserve its aviation licences.

Its CEO Carsten Spohr has repeatedly criticised Gulf rivals such as Qatar, Emirates and Etihad Airways of receiving what he describes as unfair state subsidies.

Shares in Lufthansa were up 1.9% at 0911 GMT on Monday.

Dpa also quoted the Qatar Airways CEO as saying the carrier's membership of the Oneworld airline alliance would not stand in the way of a pact with Lufthansa, which is part of rival Star Alliance.

"We have said several time that we will leave OneWorld,” he told dpa.

Al-Baker said in October that while considering a withdrawal a final decision had not been made.

He also said then his airline would consider lifting its 10% stake in Chilean carrier LATAM Airlines Group SA if the opportunity came up.

Last month Qatar signed a codeshare agreement with top Indian airline IndiGo, winning more access to the fast-growing Indian market.

(Reporting Ilona Wissenbach in Frankfurt and Davide Barbuscia in Dubai; Writing by Ludwig Burger; Editing by Alexander Smith and Emelia Sithole-Matarise)

Stocks mentioned in the article
ChangeLast1st jan.
CATHAY PACIFIC AIRWAYS LIMITED -1.15% 10.32 End-of-day quote.-7.03%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, SA -2.19% 543 Delayed Quote.-10.45%
LATAM AIRLINES GROUP SA End-of-day quote.
LUFTHANSA GROUP AG -3.12% 16.38 Delayed Quote.-14.47%
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Financials (EUR)
Sales 2019 25 572 M
EBIT 2019 3 238 M
Net income 2019 2 214 M
Debt 2019 7 206 M
Yield 2019 4,49%
P/E ratio 2019 6,21x
P/E ratio 2020 5,69x
EV / Sales2019 0,79x
EV / Sales2020 0,75x
Capitalization 13 045 M
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
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 20
Average target price 7,92  €
Last Close Price 6,57  €
Spread / Highest target 76,3%
Spread / Average Target 20,5%
Spread / Lowest Target -10,1%
EPS Revisions
Managers
NameTitle
William Matthew Walsh Chief Executive Officer & Director
Antonio Vázquez Romero Chairman
Stephen William Lawrence Gunning Chief Financial Officer & Executive Director
Kieran C. Poynter Independent Non-Executive Director
Alberto Miguel Terol Estabean Senior Independent Director
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