IAG Capital Markets Day 2019

Old Nov 8, 19, 2:22 am
  #1  
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IAG Capital Markets Day 2019

Presentation here: https://www.iairgroup.com/~/media/Fi...inal_PRINT.pdf

Webcast at 9am: https://edge.media-server.com/mmc/p/43wv48oa

Financial headline seems to be a cut in capacity growth. 2019-23 CAGR reduced from 6.0% to 3.4%. Looks to be across the brands, perhaps with BA hit it little less hard than LEVEL and Vueing (slide 123).

Lots of focus on IT, environment and loyalty.
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Old Nov 8, 19, 3:13 am
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I love that a TPG quote made it into this! “Great new hard product that can finally compete, excellent food and a lovely crew.”
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Old Nov 8, 19, 3:24 am
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Originally Posted by gustavmahler View Post
I love that a TPG quote made it into this! “Great new hard product that can finally compete, excellent food and a lovely crew.”
Odd that they used The Points Guy, and not the UK's biggest frequent flyer website.

M
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Old Nov 8, 19, 3:33 am
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I find it funny F didn't make it on to the page 16 customer 'demand space' slide as if they just forgot about it or didn't think it was important to highlight separately (they seem to be including F in 'Classy Business' which wouldn't be wholly inaccurate!).
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Old Nov 8, 19, 3:35 am
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missed the 1st half hour but thanks for the post
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Old Nov 8, 19, 3:45 am
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Slide 82: "Constantly improving our customer loyalty programmes, with major enhancements to come"

Oh dear, the E word, should we be worried?
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Old Nov 8, 19, 3:55 am
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Originally Posted by cosmo74 View Post
Oh dear, the E word, should we be worried?
Very.
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Old Nov 8, 19, 3:59 am
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Chart on page 128 suggests that Club World Suite will be fitted to the A380s, I believe that was previously in doubt so perhaps they will stay for longer now?
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Old Nov 8, 19, 4:04 am
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Originally Posted by jackqu7 View Post
Chart on page 128 suggests that Club World Suite will be fitted to the A380s, I believe that was previously in doubt so perhaps they will stay for longer now?
But not starting until 2023.

It also suggest full roll out of CS will take until end of 2025.
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Old Nov 8, 19, 4:06 am
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Originally Posted by msm2000uk View Post
Odd that they used The Points Guy, and not the UK's biggest frequent flyer website.

M
Surely they meant "The Points Guy UK" who seem to be on BA's payroll !
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Old Nov 8, 19, 4:17 am
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The fleet planning slides say only 8 777-200 left to be replaced by 2029.

This must mean that additional A350 / B787 orders are imminent.
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Old Nov 8, 19, 4:31 am
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Originally Posted by McG View Post
The fleet planning slides say only 8 777-200 left to be replaced by 2029.

This must mean that additional A350 / B787 orders are imminent.
The pack suggests IAG are will need 30-40 new long haul aircraft between 2025-29 that have yet to be ordered. This includes replacing the last IB A340's in 2025.

This year IAG have ordered 777x for 2023-2025, so I'd imagine they've got a couple of years to make up their mind before ordering this batch.
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Old Nov 8, 19, 4:35 am
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Page 125 says they are starting the BACF Embraer replacement during 2020 completing in 2023, however nothing has yet been ordered, which seems to be cutting it fine.
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Old Nov 8, 19, 4:47 am
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Some of the recent promotional activity have been positive, not the traditional "Enhancements". It is interesting that they still list Lloyds as an Avios partner. I don't think any new customers can get the MasterCard?

From the loyalty perspective there are two messages that caught my attention. The first is that IAG see IAG Loyalty as a profit centre, Avios drives disproportional loyalty (33% of seats sold are to IAG Loyalty members but this accounts for 46% of revenue)The second is that they sell a lot of Avios to their partners. IAG sell more points than they 'give away' by members flying. This means that seat availability and the perception of value for "Worthington Man" are very important, particularly in the economy cabin for short-haul journeys.
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Old Nov 8, 19, 4:48 am
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Iberia CEO's on the agenda but not Alex.

Also, very interesting slide at page 7: puts to rest the "LHR monopoly" thing that does the rounds every so often over here.
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Last edited by 13901; Nov 8, 19 at 5:11 am
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