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Prices & Quotes - UK Markets - International Consolidated Airlines Group SA (CDI) (IAG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 191.90p
Change Today:
-1.74p
Market Cap:
9,539m
Sector:
Travel & Leisure

IAG hopeful about transatlantic restart, BofA says

By Sean Farrell

Date: Friday 26 Mar 2021

LONDON (ShareCast) - (Sharecast News) - IAG thinks successful vaccine programmes in the US and UK bode well for transatlantic travel restarting, Bank of America said.
British Airways owner IAG is flying 20% of capacity and doesn't expect any meaningful increase before 17 May when UK travel is scheduled to restart, IAG officials told BofA.

"IAG views progress in vaccination rollout in the UK and US positively for transatlantic travel," BofA said. "A potential UK-US reopening in May would be very positive and ahead of expectations. All IAG airlines can ramp up to >70% capacity at short notice."



BofA said it expected a travel recovery for airlines this summer despite recent headlines about tougher restrictions.

Travel and leisure companies are cautiously optimistic about rising demand, the bank said, keeping IAG and easyJet as its top airline picks. After early problems the EU's vaccine programme will pick up in the second quarter, allowing easing of travel restrictions, BofA said.

IAG's summer bookings have increased since the UK government's travel announcement although most bookings are for last-minute essential travel. Spanish and Latin American routes are the strongest.

The company is ready to enter markets as rivals pull out or cut capacity, investor relations chief Andrew Light told BofA. The company is also comfortable with its €10.3bn of liquidity.

EasyJet bookings have surged when travel restrictions have loosened and is seeing interest in its 2022 programme earlier than usual, chief operating officer Peter Bellew told BofA. The company is not feeling fare pressure from competitors and is clamping down on costs, Bellew said.

BofA kept its 'buy' ratings on both airlines. It left IAG's price target at 250p and raised easyJet's target to 11.50 from 11.

IAG shares rose 1.3% to 196.15p at 14:49 GMT and easyJet shares rose 2.6% to 966.14p.

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IAG Market Data

Currency UK Pounds
Price 191.90p
Change Today -1.74p
52 Week High 219.62p
52 Week Low 91.00p
Volume 27,784,905
Shares Issued 4,970.69m
Market Cap 9,539m
Beta 0.06

Performance Indicators

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What The Brokers Say

Strong Buy 15
Buy 3
Neutral 10
Sell 0
Strong Sell 0
Total 28
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IAG Dividends

  Latest Previous
  Interim Final
Ex-Div 28-Nov-19 04-Jul-19
Paid 02-Dec-19 08-Jul-19
Amount 14.50¢ 16.50¢

Trades for 13-May-2021

Time Volume / Share Price
16:35 3,395,527 @ 191.90p
16:29 650 @ 192.09p
16:29 26,233 @ 191.98p
16:29 976 @ 192.04p
16:29 848 @ 192.04p

IAG Key Personnel

CEO Luis Gallego