IAG : Outperform vs Neutral recommendation – debt going down faster thanks to higher operating leverage
>Q3 should be solid, limited risk in Q4 - After a very satisfactory Q2 (€ 1,251m in EBIT vs the consensus estimate of € 895m), we believe that IAG still has good visibility on H2. The company said that bookings equalled 80% of sales in Q3 and 30% in Q4. In the peak of the summer season, we believe that momentum remains positive on all networks, particularly intra-European and domestic (RASK up 18% and 19% in Q2 respectively), transatlantic (+11.9%) and Latin Amer...International Airlines Group is an international scheduled airline and global premium airlines. Co.'s principal place of business is London with significant presence at Heathrow, Gatwick and London City airports.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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