IAG: raises long terme profit view; stock up
(CercleFinance.com) - International Consolidated Airlines Group (IAG) raised its long-term operating profit target on Friday, sending its shares up over 1% in London.
IAG - whose airlines include British Airways, Iberia and Vueling - set its new 2019-2023 Ebitdar goal at approximately 7.2 billion euros per annum for the 2018-2022 period, up from 6.5 billion euros previously.
Ebitdar is defined as earnings before interest, taxes, depreciation, amortization, and rent.
At its Capital Markets Day today, the group said it plans to increase capital spending to 2.6 billion euros per annum, compared to an average of 2.1 billion euros for 2018-2022 previously.
IAG shares rose 1.2% at 624.8 pence on the London Stock Exchange on Friday, compared to a 2.5% rise in the Euro STOXX Travel & Leisure index.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
IAG - whose airlines include British Airways, Iberia and Vueling - set its new 2019-2023 Ebitdar goal at approximately 7.2 billion euros per annum for the 2018-2022 period, up from 6.5 billion euros previously.
Ebitdar is defined as earnings before interest, taxes, depreciation, amortization, and rent.
At its Capital Markets Day today, the group said it plans to increase capital spending to 2.6 billion euros per annum, compared to an average of 2.1 billion euros for 2018-2022 previously.
IAG shares rose 1.2% at 624.8 pence on the London Stock Exchange on Friday, compared to a 2.5% rise in the Euro STOXX Travel & Leisure index.
Copyright (c) 2018 CercleFinance.com. All rights reserved.