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International Consolidated Airlines Group SA (ICAG.L)

ICAG.L on London Stock Exchange

185.65GBp
7 Aug 2020
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-0.45 (-0.24%)
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Latest Key Developments (Source: Significant Developments)

UK's BALPA Says British Airways Pilots Accept Jobs Deal
Saturday, 1 Aug 2020 

July 31 (Reuters) - :UK'S BALPA SAYS BRITISH AIRWAYS PILOTS ACCEPT JOBS DEAL.UK'S BALPA SAYS BA PILOTS JOB DEAL MEANS THAT THERE WILL BE TEMPORARY 20% PAY CUTS REDUCING TO 8% OVER TWO YEARS AND TOWARDS ZERO OVER LONGER TERM.UK'S BALPA SAYS BA PILOTS JOB DEAL MEANS THERE WILL STILL BE SOME COMPULSORY REDUNDANCIES CURRENTLY ESTIMATED TO BE 270.UK'S BALPA SAYS BA PILOTS JOB DEAL MEANS "THERE WILL BE NO FIRE AND REHIRE OF PILOT".UK'S BALPA SAYS BALLOT RESULT WAS 85% TO ACCEPT THE DEAL ON AN 87% TURNOUT.  Full Article

British Airways Says Working Closely With Partners, Suppliers To Discuss Repayment Terms
Tuesday, 28 Apr 2020 

April 28 (Reuters) - British Airways::WORKING CLOSELY WITH PARTNERS AND SUPPLIERS TO DISCUSS REPAYMENT TERMS.RE-NEGOTIATING CONTRACTS WHERE POSSIBLE; CONSIDERING ALL THE OPTIONS FOR CURRENT AND FUTURE AIRCRAFT FLEET."ANY MONEY WE BORROW NOW WILL ONLY BE SHORT-TERM AND WILL NOT ADDRESS THE LONGER-TERM CHALLENGES WE WILL FACE".WILL BEGIN PERIOD OF CONSULTATION, DURING WHICH "WE WILL WORK WITH THE TRADE UNIONS TO PROTECT AS MANY JOBS AS POSSIBLE"."THE LONGER WE DELAY DIFFICULT DECISIONS, THE FEWER OPTIONS WILL BE OPEN TO US".  Full Article

IAG Removes Limit On Non-EU Shareholding In Co
Friday, 17 Jan 2020 

Jan 17 (Reuters) - International Consolidated Airlines Group SA ::REMOVAL OF THE LIMIT ON NON-EU SHAREHOLDING.ON 17 JAN 2020, SHARE REGISTER OF IAG SHOWS THAT OWNERSHIP OF IAG'S ISSUED SHARES BY RELEVANT NON-EU PERSONS IS 39.5 PER CENT.PERMITTED MAXIMUM IS REMOVED WITH IMMEDIATE EFFECT.MAXIMUM AGGREGATE NUMBER OF RELEVANT NON-EU SHARES UNDER ARTICLE 11.8(B) OF CO'S BYLAWS IS REMOVED.  Full Article

IAG Says British Airways Signs Agreement With Trustee Of New Airways Pension Scheme
Friday, 25 Oct 2019 

Oct 25 (Reuters) - International Consolidated Airlines Group SA ::BRITISH AIRWAYS NAPS TRIENNIAL VALUATION.SIGNED AN AGREEMENT WITH TRUSTEE OF ITS NEW AIRWAYS PENSION SCHEME.BRITISH AIRWAYS WILL MAKE FIXED DEFICIT CONTRIBUTIONS OF £450 MILLION PER YEAR UNTIL MARCH 2023.MAIN TERMS OF NAPS AGREEMENT ARE TECHNICAL DEFICIT OF £2.4 BILLION (COMPARED TO £2.8 BILLION AT 31 MARCH 2015).BRITISH AIRWAYS HAS INCREASED ITS FLEXIBILITY TO MAKE DIVIDEND PAYMENTS TO IAG OF UP TO 50 PER CENT OF PRE-EXCEPTIONAL PROFIT AFTER TAX.BRITISH AIRWAYS HAS INCREASED ITS FLEXIBILITY TO MAKE DIVIDEND PAYMENTS TO IAG OF UP TO 50 PER CENT OF PRE-EXCEPTIONAL PROFIT AFTER TAX.FIXED DEFICIT CONTRIBUTIONS WILL BE MADE UNTIL MARCH 2023.CONSISTENT WITH PREVIOUS ARRANGEMENTS, BRITISH AIRWAYS WILL PAY A ONE-OFF CONTINGENCY PAYMENT OF £250 MILLION IN 2019.ON BRITISH AIRWAYS NAPS, NEW OVERPAYMENT PROTECTION MECHANISM AGREED WHERE DEFICIT CONTRIBUTIONS TO BE SUSPENDED IF TECHNICAL DEFICIT REMOVED.ON NAPS, BRITISH AIRWAYS CAN PAY A HIGHER DIVIDEND THAN 50 PER CENT OF PRE-EXCEPTIONAL PROFIT AFTER TAX IN RETURN FOR AN AGREED MECHANISM.  Full Article

IAG Says September Traffic Increased By 0.8%, Capacity Was Flat
Monday, 7 Oct 2019 

Oct 7 (Reuters) - International Consolidated Airlines Group SA ::INTL CON AIRLINE GRP - IAG TRAFFIC AND CAPACITY STATISTICS SEPTEMBER 2019.IAG - IAG TRAFFIC IN SEPTEMBER, MEASURED IN REVENUE PASSENGER KILOMETRES, INCREASED BY 0.8 PER CENT VERSUS SAME PERIOD LAST YEAR.IAG - IAG SEPTEMBER CAPACITY MEASURED IN AVAILABLE SEAT KILOMETRES WAS FLAT VERSUS SAME PERIOD LAST YEAR.IAG - IN SEPTEMBER, BALPA STRIKE ACTION SCHEDULED INITIALLY FOR 9, 10 AND 27 SEPTEMBER LED TO 2,325 BRITISH AIRWAYS FLIGHT CANCELLATIONS.IAG - NET FINANCIAL IMPACT OF INDUSTRIAL ACTION BY BALPA ESTIMATED TO BE EUR 137 MILLION DUE TO FLIGHT CANCELLATIONS, OTHERS.IAG - CAPACITY GROWTH FOR Q4 IT IS NOW EXPECTED TO BE ABOUT 2 PER CENT.IAG - AT CURRENT FUEL PRICES AND EXCHANGE RATES, EXPECTS 2019 OPERATING. PROFIT BEFORE EXCEPTIONAL ITEMS TO BE EUR 215 MILLION LOWER THAN 2018 PRO FORMA.IAG - FULL YEAR CAPACITY GROWTH IS EXPECTED TO BE ABOUT 4 PER CENT, COMPARED WITH 5 PER CENT PREVIOUSLY.IAG - SEPT. PASSENGER LOAD FACTOR 85.3% VERSUS 84.6%.IAG - LATEST BOOKING TRENDS IN LOW COST SEGMENTS (PRIMARILY VUELING AND LEVEL) WILL HAVE AN ADVERSE FINANCIAL IMPACT OF EUR 45 MILLION FOR YEAR.  Full Article

Malaysia Airlines Announces Codeshare Arrangement With British Airways
Wednesday, 2 Oct 2019 

Oct 2 (Reuters) - Malaysia Airlines : :ANNOUNCES CODESHARE ARRANGEMENT WITH BRITISH AIRWAYS.SUBJECT TO REGULATORY APPROVAL, CO WILL ALSO BE CODESHARING WITH BRITISH AIRWAYS ON EUROPEAN POINTS .ALL CODESHARE SERVICES WILL BE MARKETED AS MALAYSIA AIRLINES FLIGHTS.BRITISH AIRWAYS PASSENGERS WILL BE ABLE TO BOOK MALAYSIA AIRLINES FLIGHTS TO 14 DESTINATIONS THE AIRLINE SERVES IN.BRITISH AIRWAYS PASSENGERS CAN BOOK MALAYSIA AIRLINES FLIGHTS TO 9 CITIES IN AUSTRALIA, CAMBODIA, INDONESIA, NZ & VIETNAM.  Full Article

IAG Sees 2019 Oper Profit Before Items To Be EUR 215 Mln Lower
Thursday, 26 Sep 2019 

Sept 26 (Reuters) - International Consolidated Airlines Group SA ::EXPECTS ITS 2019 OPERATING PROFIT BEFORE EXCEPTIONAL ITEMS TO BE EUR 215 MILLION LOWER THAN 2018 PRO FORMA.FY PASSENGER UNIT REVENUE IS EXPECTED TO BE SLIGHTLY DOWN AT CONSTANT CURRENCY.CAPACITY GROWTH, MEASURED IN ASKS, FOR Q4 IS NOW EXPECTED TO BE ABOUT 2 PER CENT.FULL YEAR CAPACITY GROWTH IS EXPECTED TO BE ABOUT 4 PER CENT, COMPARED TO 5 PER CENT PREVIOUSLY.THERE HAVE BEEN NO FURTHER TALKS BETWEEN BRITISH AIRWAYS AND BALPA.AIRLINE'S OFFER OF A 11.5 PER CENT PAY INCREASE OVER THREE YEARS STILL STANDS AND HAS BEEN ACCEPTED BY BRITISH AIRWAYS' OTHER UNIONS.NET FINANCIAL IMPACT OF INDUSTRIAL ACTION IS ESTIMATED TO BE EUR 137 MILLION.INDUSTRIAL ACTION INITIALLY SCHEDULED FOR 9, 10 AND 27 LED TO AN INITIAL CANCELLATION OF 4,521 FLIGHTS OVER A PERIOD OF SEVEN DAYS.FURTHER DISRUPTION AFFECTING BRITISH AIRWAYS IN QUARTER, INCLUDING THREATENED STRIKES AT HEATHROW AIRPORT, HAD A FINANCIAL IMPACT OF EUR 33 MILLION.ESTIMATES THAT LATEST BOOKING TRENDS IN ITS LOW COST SEGMENTS WILL HAVE AN ADVERSE FINANCIAL IMPACT OF EUR 45 MILLION.  Full Article

British Airways On Potential Pilot Strike Says "Willing To Return To Talks With BALPA"
Friday, 6 Sep 2019 

Sept 6 (Reuters) - British Airways::BRITISH AIRWAYS, ON POTENTIAL PILOT STRIKE, SAYS "REMAIN READY AND WILLING TO RETURN TO TALKS WITH BALPA".  Full Article

BALPA Says Gave Notice To British Airways For Three Days Strike In Sept
Friday, 23 Aug 2019 

Aug 23 (Reuters) - :BRITISH AIRLINE PILOTS ASSOCIATION SAYS GAVE NOTICE TO BRITISH AIRWAYS THAT IT WILL CALL ON ITS MEMBERS TO STRIKE ON 9TH, 10TH AND 27TH SEPT 2019.  Full Article

BA-owner IAG says well positioned for Brexit fallout
Friday, 2 Aug 2019 

Aug 2 (Reuters) - British Airways owner IAG ::CEO WILLIE WALSH SAYS GROUP IS VERY WELL POSITIONED IN CASE OF A HARD BREXIT DUE TO FLEXBILITY; CURRENTLY PLANNING ON A 'SENSIBLE BREXIT'.SAYS TRANSATLANTIC PREMIUM 'REALLY GOOD'; PREMIUM SEAT SALES PERFORMING VERY WELL.SAYS CAN'T PUT A FIGURE ON COST OF POSSIBLE BA INDUSTRIAL ACTION; SAYS OTHER PARTS OF IAG WOULD 'TAKE ADVANTAGE OF UNFORTUNATE SITUATION'.SAYS I DON'T BELIEVE ALL AIRLINES OPERATING TODAY WILL BE OPERATING IN A YEAR'S TIME; IAG IN A POSITION TO TAKE ADVANTAGE.SAYS SLOWING GROWTH IN VUELING THIS SUMMER .SPEAKING TO ANALYSTS ON CONFERENCE CALL.  Full Article

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British Airways-owner IAG boosted by 750 million pounds deal with American Express

LONDON British Airways-owner International Airlines Group said American Express would pay it 750 million pounds ($955 million) to renew their partnership, providing a welcome boost to the airline's finances at a time when it is burning through cash.