International Consolidated Airlines Group S.A.

International Airlines Group is an international scheduled airline and global premium airlines. Co.'s principal place of business is London with significant presence at Heathrow, Gatwick and London City airports.
  • TickerIAG
  • ISINES0177542018
  • ExchangeMadrid Stock Exchange
  • SectorTravel & Leisure
  • CountrySpain

Analysts

Ahmed Ben Salem ...
  • Alain William
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/01/2019

Unlike CEO pay, the average remuneration paid to the chairs of the boards of directors of the large cap companies covered by ODDO BHF increased by 4.9% between 2013 and 2017. The disparities between companies stem mainly from national contexts and widely differing perceptions of the role of the board chair depending on the countries, though for certain stocks the ownership structure and sector situation may have an influence. Cf. Report published last evening. - ...

Olfa Taamallah ...
  • Yan Derocles

IAG : Caution's the watchword until the Brexit terms are clarified

>A solid 2018 and an exceptional dividend of € 700m - IAG yesterday posted a better than expected FY 2018 with operating profit before exceptionals of € 3.23bn (+9.5% y-o-y) versus a consensus of € 3.155bn, i.e. a margin of 13.2%, up 30bp, including: i/ an improvement in unit revenues ex forex of 2.4% with +1.5% for Q4, ii/ a decline in unit costs ex fuel, forex and exceptional items of 0.8% (vs -1%e), and iii/ an increase in unit fuel costs of 8% (vs 9%e). More...

Ahmed Ben Salem ...
  • Alain William
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 01/03/2019

Contrairement aux rémunérations de CEO, la moyenne des sommes versées aux présidents de conseil d’administration dans les large caps suivies chez Oddo BHF a connu une hausse de 4.9% entre 2013 et 2017. Les disparités entre les sociétés relèvent principalement de contextes nationaux et d’une perception du rôle de président(e) très différents selon les pays, même si la situation actionnariale et sectorielle peut, pour certaines valeurs, avoir une influence. Cf. étude publiée hier. - ...

Olfa Taamallah ...
  • Yan Derocles

IAG : La prudence est de mise tant que les modalités du Brexit ne sont pas clarifiées

>Exercice 2018 solide et dividende exceptionnel de 700 M€ - IAG a publié hier un FY 2018 au-delà des attentes avec un résultat opérationnel avant exceptionnels de 3 230 M€ (+9.5% yoy) contre une attente du consensus à 3 155 M€, soit une marge de 13.2% en hausse de 30 pb intégrant: i/ une amélioration de la recette unitaire hors changes de 2.4% dont +1.5% pour le T4, ii/ une baisse des coûts unitaires hors carburant, changes et éléments exceptionnels de 0.8% (vs. -1%e...

International Airlines – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Marc Pierron

IAG- Rating report

IAG is the holding company of four operating airlines: British Airways, Iberia (acquired in January 2011), Vueling (acquired in April 2013), and Aer Lingus (acquired in August 2015) of which the first two are members of the Oneworld alliance.The group operates out of two large hubs, London Heathrow and Madrid Barajas, and is the third-largest European Airline behind Lufthansa and Air France KLM, ranking #6 worldwide in terms of revenue.

Olfa Taamallah ...
  • Yan Derocles

IAG : Caution's the watchword until the Brexit terms are clarified

>A solid 2018 and an exceptional dividend of € 700m - IAG yesterday posted a better than expected FY 2018 with operating profit before exceptionals of € 3.23bn (+9.5% y-o-y) versus a consensus of € 3.155bn, i.e. a margin of 13.2%, up 30bp, including: i/ an improvement in unit revenues ex forex of 2.4% with +1.5% for Q4, ii/ a decline in unit costs ex fuel, forex and exceptional items of 0.8% (vs -1%e), and iii/ an increase in unit fuel costs of 8% (vs 9%e). More...

Olfa Taamallah ...
  • Yan Derocles

IAG : La prudence est de mise tant que les modalités du Brexit ne sont pas clarifiées

>Exercice 2018 solide et dividende exceptionnel de 700 M€ - IAG a publié hier un FY 2018 au-delà des attentes avec un résultat opérationnel avant exceptionnels de 3 230 M€ (+9.5% yoy) contre une attente du consensus à 3 155 M€, soit une marge de 13.2% en hausse de 30 pb intégrant: i/ une amélioration de la recette unitaire hors changes de 2.4% dont +1.5% pour le T4, ii/ une baisse des coûts unitaires hors carburant, changes et éléments exceptionnels de 0.8% (vs. -1%e...

Fatma Ayachi ...
  • Olfa Taamallah
  • Yan Derocles

ODDO : Capacity discipline masked by economic and political uncertainty

Our bottom-up analysis of capacity for the 2019 summer season points to a disciplined approach to the medium-haul and long-haul segments from/to Europe which will not be sufficient to mask pricing pressure (undermined by Brexit). We have upgraded our recommendation on Lufthansa to Buy to play consolidation in the German market, self-help and the valuation. In contrast, we have downgraded IAG to Reduce on the Brexit theme. - >Better capacity discipline expected over the su...

Fatma Ayachi ...
  • Olfa Taamallah
  • Yan Derocles

ODDO : Discipline capacitaire masquée par l’incertitude économique et politique

Notre analyse bottom-up des capacités sur la saison estivale 2019 fait ressortir une discipline sur le moyen et long-courrier de/vers l’Europe qui ne sera pas suffisante pour masquer la pression tarifaire (plombée notamment par le Brexit). Nous relevons notre opinion à l'Achat sur Lufthansa pour jouer la consolidation en Allemagne, le self-help et la valorisation, nous dégradons IAG à Alléger sur la thématique Brexit. - >Une meilleure discipline capacitaire attendue sur l...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Capacity discipline masked by economic and political uncertainty

Our bottom-up analysis of capacity for the 2019 summer season points to a disciplined approach to the medium-haul and long-haul segments from/to Europe which will not be sufficient to mask pricing pressure (undermined by Brexit). We have upgraded our recommendation on Lufthansa to Buy to play consolidation in the German market, self-help and the valuation. In contrast, we have downgraded IAG to Reduce on the Brexit theme. - >Better capacity discipline expected over the su...

2 directors sold

Two Directors at International Consolidated Airlines Group SA sold 123,500 shares at between 690p and 694p. The significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is rest...

Ahmed Ben Salem ...
  • Alain William
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/01/2019

Unlike CEO pay, the average remuneration paid to the chairs of the boards of directors of the large cap companies covered by ODDO BHF increased by 4.9% between 2013 and 2017. The disparities between companies stem mainly from national contexts and widely differing perceptions of the role of the board chair depending on the countries, though for certain stocks the ownership structure and sector situation may have an influence. Cf. Report published last evening. - ...

Ahmed Ben Salem ...
  • Alain William
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 01/03/2019

Contrairement aux rémunérations de CEO, la moyenne des sommes versées aux présidents de conseil d’administration dans les large caps suivies chez Oddo BHF a connu une hausse de 4.9% entre 2013 et 2017. Les disparités entre les sociétés relèvent principalement de contextes nationaux et d’une perception du rôle de président(e) très différents selon les pays, même si la situation actionnariale et sectorielle peut, pour certaines valeurs, avoir une influence. Cf. étude publiée hier. - ...

Alain William ...
  • Benoit Valleaux
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Johanna Jourdain
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Samantha Jeary
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/19/2019

In spite of a thorough restructuring programme (operational and financial), Veolia’s valuation multiples remain close to their average historic levels. The group has significantly reduced its areas of industrial risk and is benefiting from its revamped commercial positioning. Optimisation is set to continue in the medium term and should drive performance, along with bolt-on acquisitions. Whilst there is a risk of macroeconomic slowdown, this is yet to be reflected in volumes. The valu...

Charles Lepetitpas ...
  • Jerôme Bodin
  • Nicolas David
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 02/19/2019

...

Alain William ...
  • Benoit Valleaux
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Johanna Jourdain
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Samantha Jeary
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/02/2019

En dépit d’une restructuration en profondeur (opérationnelle et financière), les multiples de valorisation de Veolia demeurent proches des niveaux historiques moyens. Le groupe a significativement réduit ses zones de risques industriels et bénéficie de son positionnement commercial renouvelé. L’optimisation va se poursuivre sur le moyen terme et alimenter la performance, avec une croissance externe ciblée. Si un risque de ralentissement macroéconomique existe, il ne se reflète pas enc...

With a more favourable environment, INTL.CONS.AIRL.GROUP SA improves to Slightly Positive

INTL.CONS.AIRL.GROUP SA (GB), a company active in the Airlines industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date November 27, 2018, the closing price was GBp 657.00 and its potential was estimated at GBp 710.69.

International Consolidated Airlines Group

International Consolidated Airlines Group

International Consolidated Airlines Group

International Consolidated Airlines Group

MarketLine Department

Deutsche Lufthansa AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Deutsche Lufthansa AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments Marketline's Deutsche Lufthansa AG Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Deutsche Lufthansa AG since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and in...

International Airlines – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jérôme VINERIER

Analyse court terme - INTERNATIONAL CONSOLIDATED AIRLINES GROUP (ex. BRITISH AIRWAYS PLC) : La reprise est une consolid...

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 643,50 p prochainement. Le prochain objectif est à 572,60 p, puis 544,03 p. Le franchissement de 643,50 p remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - INTERNATIONAL CONSOLIDATED AIRLINES GROUP (ex. BRITISH AIRWAYS PLC) : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at 643.50 p. The next target is at 572.60 p, then 544.03 p. Passing 643.50 p would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - INTERNATIONAL CONSOLIDATED AIRLINES GROUP (ex. BRITISH AIRWAYS PLC) : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 544,03 p. La tendance de fond serait remise en cause en cas de franchissement de 643,50 p.

Jérôme VINERIER

Short term view - INTERNATIONAL CONSOLIDATED AIRLINES GROUP (ex. BRITISH AIRWAYS PLC) : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at 544.03 p. The background trend would be questioned should prices rise above 643.50 p.

Jérôme VINERIER

Medium term view - INTERNATIONAL CONSOLIDATED AIRLINES GROUP (ex. BRITISH AIRWAYS PLC) : Falling prices.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

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