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Feb 29 2024, 07:35 GMT
IAG
Signalling positive free cash generation
DAVY VIEW
IAG reported broadly in-line consensus numbers (€3,513m). Full year 2023 operating profit before exceptional items of €3,507m was significantly higher than last year and ahead of 2019 (2022: €1,247m; 2019: €3,253m). It has provided a positive outlook for 2024: it has confidence in significant free cash flow generation; disciplined capital allocation will maintain a strong balance sheet; it remains committed to sustainable shareholder value creation and cash returns.
