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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  International Consolidated Airlines Group, S.A.    IAG   ES0177542018

INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.

(IAG)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 10/30 12:30:00 pm
95.78 GBX   +5.16%
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British Airways-owner IAG boosted by 750 million pounds deal with American Express

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07/24/2020 | 03:22am EDT
FILE PHOTO: American Express logo and trading symbol are displayed on a screen at the NYSE in New York

British Airways-owner International Airlines Group said American Express would pay it 750 million pounds ($955 million) to renew their partnership, providing a welcome boost to the airline's finances at a time when it is burning through cash.

Since lockdowns have eased, flying has restarted, but pressure remains on airline companies like IAG because travel is still at less than half of pre-pandemic levels due to ongoing restrictions for some destinations and consumer worries.

IAG's finances have been strained by the pandemic, leading to media speculation that it could need to raise new equity. It said at the end of April that it had 10 billion euros ($11.6 billion) of liquidity and it was burning through 200 million euros a week.

The 750 million pound boost from the partnership deal announced on Friday could give it more breathing space.

Goodbody analysts said in a note that the news was positive, giving the company, whose liquidity could have fallen to around 4 billion euros since its last update, another month's worth of cash burn.

Shares in IAG were down 1.7% at 205 pence, in line with the FTSE 100 index. IAG's shares have lost 67% of their value so far in 2020.

IAG said that the multi-year renewal agreement with American Express would extend the commercial partnership with the payments company, and that American Express was paying IAG to pre-purchase Avios points, which members of rewards programmes can use to buy flights.

The airline group, which also owns Iberia, Vueling and Aer Lingus, is due to report second quarter results on July 31.

($1 = 0.7849 pounds)

($1 = 0.8610 euros)

(Reporting by Sarah Young in London and Samantha Machado in Bengaluru; Editing by Vinay Dwivedi and Emelia Sithole-Matarise)


Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN EXPRESS COMPANY -0.63% 90.415 Delayed Quote.-26.85%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. 5.03% 96.44 Delayed Quote.-78.02%
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Financials
Sales 2020 8 746 M 10 190 M 10 190 M
Net income 2020 -4 888 M -5 696 M -5 696 M
Net Debt 2020 11 504 M 13 404 M 13 404 M
P/E ratio 2020 -0,58x
Yield 2020 0,09%
Capitalization 5 007 M 5 835 M 5 834 M
EV / Sales 2020 1,89x
EV / Sales 2021 1,05x
Nbr of Employees 63 501
Free-Float 89,6%
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Technical analysis trends INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 1,79 €
Last Close Price 1,01 €
Spread / Highest target 196%
Spread / Average Target 77,0%
Spread / Lowest Target 9,69%
EPS Revisions
Managers
NameTitle
Luís Gallego Martín Chief Executive Officer & Executive Director
Antonio Vázquez Romero Chairman
Stephen William Lawrence Gunning Chief Financial Officer & Executive Director
John Gibbs Chief Information Officer
Alberto Miguel Terol Esteban Senior Independent Director
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