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Aug 2 2019, 07:50 IST/BST
IAG
Guidance maintained; operating profit in line with last year
DAVY VIEW
Considering the macro newsflow and headwinds, maintaining the record profitability of last year (€3,485m) is a very credible performance for IAG. We also note that passenger unit revenue at constant currency is expected to improve for the remainder for the year. While unlikely to change our above consensus €3,465m forecast, we expect the stock to go better – noting its 4.5x P/E valuation. Conference call at 09:00; confirmation code: 5887578; telephone: +44 2071928000, +353 1 4319615
