Print Page  |  Close Window

News Release

IAG Capital Markets Day 2018
RNS Number : 1546G
International Cons Airlines Group
02 November 2018




International Consolidated Airlines Group (IAG) will update the market today (November 2, 2018) at its Capital Markets Day with the following key information:


Shareholder cash returns:


IAG reinforces its strong equity free cash flow targets

IAG has a strong balance sheet


Long-term planning goals for 2019-2023 include:

Return on Invested Capital (real terms) targeting sustainable 15% (no change)

An operating profit margin of 12% to 15% (no change)

Average EPS growth of 12%+ per annum (no change)

EBITDAR of approximately €7.2bn average per annum (compared to €6.5bn average per annum for 2018-2022 previously)

Average net capex of €2.6bn per annum (compared to an average of €2.1bn per annum for 2018-2022 previously)

Equity free-cash flow average of €2.5bn per annum (no change)

ASK growth of approximately 6% per annum (compared to approximately 5% per annum for 2018-2022 previously)

Gearing to be in the investment grade zone (no change)


The presentations from the Capital Markets Day can be accessed via and a webcast of the event will be available today from 0900 GMT/1000 CET.


The presentations from the Capital Markets Day can be accessed via and a webcast of the event will be available today from 0900 GMT/1000 CET.



November 2, 2018




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


Enrique Dupuy, Chief Financial Officer


Forward-looking statements:

Certain statements included in this report are forward-looking and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

Forward-looking statements can typically be identified by the use of forward-looking terminology, such as "expects", "may", "will", "could", "should", "intends", "plans", "predicts", "envisages" or "anticipates" and include, without limitation, any projections relating to results of operations and financial conditions of International Consolidated Airlines Group S.A. and its subsidiary undertakings from time to time (the 'Group'), as well as plans and objectives for future operations, expected future revenues, financing plans, expected expenditures and divestments relating to the Group and discussions of the Group's Business plan. All forward-looking statements in this report are based upon information known to the Group on the date of this report. The Group undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

It is not reasonably possible to itemise all of the many factors and specific events that could cause the forward-looking statements in this report to be incorrect or that could otherwise have a material adverse effect on the future operations or results of an airline operating in the global economy. Further information on the primary risks of the business and the risk management process of the Group is given in the Annual Report and Accounts 2016; these documents are available on

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit