IAG FY Results 2017
Feb 23, 2018, 1:27 am
#1
Original Poster
Join Date: Jan 2003
Location: London, UK
Posts: 5,655
IAG FY Results 2017
Presentation is here with the webcast starting at 09.00 UK time.
http://phx.corporate-ir.net/External...49108503290609
http://phx.corporate-ir.net/External...49108503290609
Feb 23, 2018, 1:42 am
#2
Join Date: Sep 2014
Location: Brexile in ADB
Programs: BA, TK, HHonours, Le Club, Best Western Rewards
Posts: 7,067
Nothing on NPS but I am not sure if that was ever included in the quarterly updates. Just had a brief skim but the underlying numbers look positive, which goes to show that our dire predictions look wrong. Pity but the race to the bottom appears to be the profitable strategy.
I think this is the first time they have said this though
I think this is the first time they have said this though
IAG is a Spanish company. Its airlines have long-established AOCs and substantive businesses in Ireland, France, Spain and the UK employing around 63,000 people and operating 546 aircraft
Feb 23, 2018, 2:03 am
#5
Join Date: Sep 2003
Location: OSL
Posts: 2,643
Lots of definitions for which I think you really need the full notes:
Adj. EPS (in light of buybacks); ROIC definitions (with or without leases), ‘on b/s capex’ in cash flows. Whilst overall IAG’s performance metrics are tier 1 in world of airlines I’m personally always wary when companies use too many adjusted definitions (or point out definitions of certain things but not the others....).
Adj. EPS (in light of buybacks); ROIC definitions (with or without leases), ‘on b/s capex’ in cash flows. Whilst overall IAG’s performance metrics are tier 1 in world of airlines I’m personally always wary when companies use too many adjusted definitions (or point out definitions of certain things but not the others....).
Feb 23, 2018, 2:03 am
#6
Join Date: Aug 2015
Location: England
Programs: BAEC Gold, UA Mileage Plus, Hotels.com Gold, Marriott Bonvoy Platinum, Pizza Express Gold
Posts: 602
Feb 23, 2018, 2:05 am
#7
Join Date: Dec 2014
Location: UK
Programs: BA, U2+, SK, AF/KL, IHG, Hilton, others gathering dust...
Posts: 2,552
Solid results, these things are often more interesting for what they don't say. The emphasis on IAG CASK reduction since 2011 helps to gloss over recent cost challenges (trying to break strikes is expensive...).
The biggest BA capacity increase I've seen in a while is projected for FY18. It doesn't really say why, but I guess it's a combination of Monarch slots ar LGW, densification and better fleet utilisation.
Also a bigger than usual emphasis on IAG itself and the investment case. The share buybacks are also interesting.
IAG share price down 3.6% this morning as I type, let's see how it progresses.
The biggest BA capacity increase I've seen in a while is projected for FY18. It doesn't really say why, but I guess it's a combination of Monarch slots ar LGW, densification and better fleet utilisation.
Also a bigger than usual emphasis on IAG itself and the investment case. The share buybacks are also interesting.
IAG share price down 3.6% this morning as I type, let's see how it progresses.
Feb 23, 2018, 2:07 am
#8
Original Poster
Join Date: Jan 2003
Location: London, UK
Posts: 5,655
From a financial perspective they definitely seen a solid set of results.
Picking out the passenger centric stuff, which is not the focus of the deck, I noted that on slide 11, that catering costs seemed to be between 4% and 7% down. That's clearly across the group, but not quite sure how they can be investing in a better product if they're saying they're reducing costs.
Picking out the passenger centric stuff, which is not the focus of the deck, I noted that on slide 11, that catering costs seemed to be between 4% and 7% down. That's clearly across the group, but not quite sure how they can be investing in a better product if they're saying they're reducing costs.
Feb 23, 2018, 2:16 am
#9
Join Date: Dec 2014
Location: UK
Programs: BA, U2+, SK, AF/KL, IHG, Hilton, others gathering dust...
Posts: 2,552
Picking out the passenger centric stuff, which is not the focus of the deck, I noted that on slide 11, that catering costs seemed to be between 4% and 7% down. That's clearly across the group, but not quite sure how they can be investing in a better product if they're saying they're reducing costs.
Feb 23, 2018, 2:26 am
#10
Join Date: Aug 2013
Posts: 8,767
Completely agree. Rise in unit costs is the big negative that jumps out from the slides.
Feb 23, 2018, 2:51 am
#11
Original Poster
Join Date: Jan 2003
Location: London, UK
Posts: 5,655
Feb 23, 2018, 2:53 am
#12
Join Date: Jun 2001
Location: London, UK / (TLV), Israel
Programs: BA Gold (GGL/CCR), *A Gold - TAP, SkyTeam E+, IHG Diamond AMB, HH Diamond, Sixt PL, GE/TSA Pre
Posts: 1,663
@rossmacd Let me answer that speculation for you... https://www.qatarairways.com/en/onboard/qsuite.html
Give or take... that's what will be rolled out as the new J product in the near future.
Give or take... that's what will be rolled out as the new J product in the near future.
Feb 23, 2018, 3:17 am
#13
FlyerTalk Evangelist
Join Date: Feb 2004
Location: London
Programs: BA, VS, HH, IHG, MB, MR
Posts: 26,871
@rossmacd Let me answer that speculation for you... https://www.qatarairways.com/en/onboard/qsuite.html
Give or take... that's what will be rolled out as the new J product in the near future.
Give or take... that's what will be rolled out as the new J product in the near future.
BA actually has a huge amount of flexibility if they are willing to go down the cubby hole route.
Feb 23, 2018, 3:39 am
#14
Original Poster
Join Date: Jan 2003
Location: London, UK
Posts: 5,655
From listening to the call, Willie has just said that there will be a proposal for the refresh of Avios, which will go to the board in March. It should have gone yesterday, but the agenda was too busy. No more detail than that.
Feb 23, 2018, 4:44 am
#15
Join Date: Aug 2004
Programs: Meh
Posts: 2,596
@rossmacd Let me answer that speculation for you... https://www.qatarairways.com/en/onboard/qsuite.html
Give or take... that's what will be rolled out as the new J product in the near future.
Give or take... that's what will be rolled out as the new J product in the near future.