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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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International Consolidated Airlines : IAG names new chair amid changing of the guard at airlines group

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07/31/2020 | 04:41pm EDT
FILE PHOTO: British Airways logos are seen on tail fins at Heathrow Airport in west London

British Airways-owner IAG named Javier Ferran as its new chairman on Friday, due to take over at the beginning of next year, just months after a new chief executive takes the reins and as the pandemic batters the travel market.

Ferran, who is also chairman of the world's largest spirits maker Diageo, has been on the IAG board since 2019 and will replace Antonio Vazquez.

Ferran said that the airline group, which posted a record loss on Friday and said it planned to raise 2.75 billion euros from shareholders to get through the crisis, had a strong future.

"I am committed to leading the group through this crisisand working with Luis (Gallego) to build a strong future, in which the group will continue to take a leading role in the industry," Ferran said in an IAG statement on Friday.

By the time he steps down at the end of this year, chairman Vazquez will have been at the helm for almost ten years with his tenure dating back to the formation of IAG in 2011 through the merger of British Airways and Iberia.

Willie Walsh, chief executive of IAG since it was created, is due to retire on Sept. 8 and will be succeeded by Iberia boss Luis Gallego.

(Reporting by Sarah Young)

Stocks mentioned in the article
ChangeLast1st jan.
DIAGEO PLC 0.04% 2568 Delayed Quote.-19.79%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, SA 8.65% 201.7 Delayed Quote.-70.30%
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Financials
Sales 2020 10 560 M 12 412 M 12 412 M
Net income 2020 -4 348 M -5 110 M -5 110 M
Net Debt 2020 13 320 M 15 655 M 15 655 M
P/E ratio 2020 -0,93x
Yield 2020 0,10%
Capitalization 4 434 M 5 241 M 5 212 M
EV / Sales 2020 1,68x
EV / Sales 2021 0,94x
Nbr of Employees 63 501
Free-Float 74,3%
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Mean consensus BUY
Number of Analysts 19
Average target price 3,28 €
Last Close Price 2,05 €
Spread / Highest target 149%
Spread / Average Target 59,8%
Spread / Lowest Target -13,5%
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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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