Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.

(IAG)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 11/30 09:49:14 am
157.75 GBX   -1.93%
11/27Gatwick Airport sees travel boost from new testing rules
RE
11/27UK's Gatwick Airport sees travel boost from new testing rules
RE
11/25Reduced to meeting online, airlines vow to keep fighting
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

International Consolidated Airlines S A : Airlines Group - IAG preliminary third quarter results and update

10/23/2020 | 09:22am EST

International Airlines Group (IAG) announces its preliminary results for the third quarter of 2020 and capacity outlook for the fourth quarter.

Third quarter results

Total revenue declined by 83 per cent to EUR1.2 billion compared to EUR7.3 billion last year. Operating result before exceptional items was a EUR1.3 billion loss compared to a EUR1.4 billion profit last year.

Passenger capacity, expressed in available seat kilometres, declined by 78.6 per cent in the quarter. Passenger traffic, measured in terms of revenue passenger kilometres, declined by 88.0 per cent. Seat load factor declined by 38.8 points to 48.9 per cent.

Current trading and capacity outlook

On 10 September, IAG announced a reduction in capacity from -74 per cent to -78 per cent in 3Q 2020 and from -46 per cent to -60 per cent in 4Q 2020 as a result of the levelling off of bookings following the reintroduction of quarantine requirements by many European governments.

Recent overall bookings have not developed as previously expected due to additional measures implemented by many European governments in response to a second wave of COVID-19 infections, including an increase in local lockdowns and extension of quarantine requirements to travellers from an increasing number of countries. At the same time, initiatives designed to replace quarantine periods and increase customer confidence to book and travel, such as pre-departure testing and air corridor arrangements, have not been adopted by governments as quickly as anticipated.

In response to the high uncertainty of the current environment, IAG now plans for capacity in 4Q 2020 to be no more than 30 per cent compared to 2019. As a result, the Group no longer expects to reach breakeven in terms of Net cash flows from operating activities during 4Q 2020.

Liquidity

Liquidity remains strong. As at 30 September 2020, the Group had total liquidity of EUR6.6 billion, comprised of EUR5.0 billion of cash, cash equivalents and interest-bearing deposits and EUR1.6 billion of undrawn and committed general and aircraft facilities. In addition, EUR2.74 billion of gross proceeds from the Capital Increase were received in early October for a total pro-forma liquidity of EUR9.3 billion.

Detailed results for the third quarter will be released as planned on 30 October, accompanied by a presentation and conference call for analysts and investors.

Stephen Gunning

Chief Financial Officer

22 October 2020

LEI: 959800TZHQRUSH1ESL13

This announcement contains inside information and is disclosed in accordance with the Company's obligations under the Market Abuse Regulation (EU) No 596/2014.

(C) 2020 Electronic News Publishing, source ENP Newswire

All news about INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.
11/27Gatwick Airport sees travel boost from new testing rules
RE
11/27UK's Gatwick Airport sees travel boost from new testing rules
RE
11/25Reduced to meeting online, airlines vow to keep fighting
RE
11/25Pandemic Spurs U.K. Companies to Tap London Equity Market at Fastest Pace in ..
DJ
11/24JETBLUE AIRWAYS : Leadership Changes at IATA
AQ
11/24U.S. Stock Futures Rise as Election Uncertainty Ebbs
DJ
11/24U.S. Stock Futures Rise as Election Uncertainty Ebbs
DJ
11/24U.S. Stock Futures Rise as Election Uncertainty Ebbs
DJ
11/24INTERNATIONAL CONSOLIDATED AIRLINES : Alexandre de Juniac to step down as Direc..
AQ
11/24Wizz Air boss blasts slot waiver limiting Gatwick access
RE
More news
Financials
Sales 2020 8 504 M 10 185 M 10 185 M
Net income 2020 -5 489 M -6 573 M -6 573 M
Net Debt 2020 11 906 M 14 259 M 14 259 M
P/E ratio 2020 -0,93x
Yield 2020 0,05%
Capitalization 8 886 M 10 646 M 10 642 M
EV / Sales 2020 2,44x
EV / Sales 2021 1,43x
Nbr of Employees 63 501
Free-Float 89,6%
Chart INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.
Duration : Period :
International Consolidated Airlines Group, S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 1,88 €
Last Close Price 1,79 €
Spread / Highest target 42,7%
Spread / Average Target 5,04%
Spread / Lowest Target -38,1%
EPS Revisions
Managers
NameTitle
Lus Gallego Martn Chief Executive Officer & Executive Director
Antonio Vzquez Romero Chairman
Stephen William Lawrence Gunning Chief Financial Officer & Executive Director
John Gibbs Chief Information Officer
Alberto Miguel Terol Esteban Senior Independent Director
Sector and Competitors