IAG drops 4.37% on the stock market after presenting its medium-term plans to its investors
IAGthe Spanish-British holding company that owns Iberia and Vueling, closed the stock market session this Tuesday with a fall of 4.37%, to 1.784 euros, coinciding with presenting its medium-term plans to its investors at the Capital Markets Day.
Among these plans, the holding company has shown its commitment to distribute dividends to its shareholders once its balance sheet reaches a “robust position” and their investment plans “are advanced.”
Likewise, IAG has reported that it expects to obtain more than 1,500 million euros of operating profit in its Spanish businesses in the medium term, since Spain’s airlines are reporting “very efficient growth” with a focus on Latin America. For this reason, IAG wants to continue strengthening its leadership in this region.
The company also aims to achieve an operating margin of between 12% and 15%the forecast of obtaining a return on invested capital of between 13% and 16%, as well as maintaining leverage (net debt/Ebitda) of less than 1.8 times throughout the cycle.
IAG’s outlook for the full year 2023 remains unchanged. During the event, no comments were made about the current and future situation of the business..
