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IAG: raises operating profit target; shares up slightly.

(CercleFinance.com) - British Airways' parent company IAG raised its long-term targest for 2018-2022 at its Capital Markets Day on Friday, in particular upgrading its Ebitdar target for the next five years.

The airline group said it now expects Ebitdar of approximately 6.5 billion euros on each year, compared to 5.3 billion euros per year for the period 2016-2020 previously.

IAG's Ebitdar is calculated as operating profit before extraordinary items, depreciation, amortisation and impairment and aircraft operating lease costs.

The group also raised its capital expenditure target to an average of 2.1 billion euros per year, compared to an average of 1.7 euros per year for 2016-2020 previously.

On the other hand, the company did not change its target of an operating profit margin of 12% to 15%.

IAG shares are currently up 1.7% at 642 pence on the London Stock Exchange.

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