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IAG 2011 Results

Posted: Tue Feb 28, 2012 7:51 pm
by sam1987
IAG announces their 2011 results tomorrow:

http://www.iairgroup.com/phoenix.zht...=irol-EventDetails&EventId=4731139

What do we expect?

RE: IAG 2011 Results

Posted: Tue Feb 28, 2012 9:27 pm
by blackwidow
Big profits........ £££££££££££££

RE: IAG 2011 Results

Posted: Wed Feb 29, 2012 8:53 am
by LHRFlyer
A good overall set of results. However, the divergence in peformance of Iberia and BA is stark. BA reported an operating profit of £518m, Iberia a loss of 98m Euros. Some way to go to improve peformance in Iberia which will, I'm sure, happen in the medium term.

http://www.iairgroup.com/External.Fi...O2mwZAC1EapzugMxsJ5ZnlyyMrNTXKFA==

RE: IAG 2011 Results

Posted: Wed Feb 29, 2012 9:16 am
by lhr380
Waney   nice job IAG.

The IB thing is intersting. It's trying to turn around and change, but as we all know, that's hard to do in Spain and we have seen the results of that with all the strikes about IB express.

RE: IAG 2011 Results

Posted: Wed Feb 29, 2012 1:18 pm
by mikey72
Good set of results under the circumstances. Oil etc

RE: IAG 2011 Results

Posted: Wed Feb 29, 2012 2:03 pm
by r2rho
Very good results for IAG, despite the economic crisis and 30% higher fuel costs they have still managed to post a very healthy profit.

· Fourth quarter operating profit of €34 million, before exceptional items (2010: €6 million)

· Operating profit for the year to December 31, 2011 of €485 million, before exceptional items (2010: €225 million)

· Profit before tax for the year of €503 million after exceptional items (2010: €84 million)

· Revenue for the year up 10.4 per cent to €16,339 million (2010: €14,798 million), including €317 million or 2.1 per cent of adverse currency impact

· Passenger unit revenue for the year up 3.6 per cent (5.8 per cent at constant currency), on top of capacity increases of 7.1 per cent

· Fuel costs for the year up 29.7 per cent to €5,068 million, before exceptional items (2010: €3,907 million), fuel unit costs were up 21.4 per cent

· Other operating costs up 1.1 per cent at €10,786 million, before exceptional items, including €165 million or 1.5 per cent of favourable currency impact. Non-fuel unit costs down 5.6 per cent, or 4.1 per cent at constant currency

· Cash down €617 million for the year to €3,735 million

· Group net debt up €253 million in the year to €1,148 million


http://www.iairgroup.com/phoenix.zht...-newsArticle&ID=1667085&highlight=

Quoting LHRFlyer (Reply 2):
Iberia a loss of 98m Euros

IB has been consistently profitable for a long time in the past but is now going through a rough period (extremely hard crisis in Spain), and transforming and restructuring its operations. The new IB Express will make its shorthaul profitable again, and those A333s to replace the A343s can't come soon enough. It will be back in the black soon, I have no doubt.

RE: IAG 2011 Results

Posted: Wed Feb 29, 2012 2:15 pm
by scouseflyer
Another snippet from the presentation, Ibesria express will start with 4 A320s transfered from Iberia mainline and will have 40 A320s by 2015 - I think that some more narrow bodies will be ordered soon.

RE: IAG 2011 Results

Posted: Wed Feb 29, 2012 2:25 pm
by Polot
Quoting scouseflyer (Reply 6):
Another snippet from the presentation, Ibesria express will start with 4 A320s transfered from Iberia mainline and will have 40 A320s by 2015 - I think that some more narrow bodies will be ordered soon.

Do they mean A320s specifically or 40 A32Xs? If the later then I have a feeling the 36 additional planes will also come from IB rather than a new order.

RE: IAG 2011 Results

Posted: Wed Feb 29, 2012 6:55 pm
by sam1987
Quoting r2rho (Reply 5):
IB has been consistently profitable for a long time in the past but is now going through a rough period (extremely hard crisis in Spain)

I think what IB is going through now is similar to what BA went through in 2009-10. It's a period of difficult change, but it has to happen.

RE: IAG 2011 Results

Posted: Wed Feb 29, 2012 7:20 pm
by mogandoCI
Quoting LHRFlyer (Reply 2):
A good overall set of results. However, the divergence in peformance of Iberia and BA is stark. BA reported an operating profit of £518m, Iberia a loss of 98m Euros.

And their solution to this divergence of results is wanting to buy TAP, *yet* another PIIGS-based carrier ?

RE: IAG 2011 Results

Posted: Wed Feb 29, 2012 7:42 pm
by mikey72
Quoting mogandoCI (Reply 9):
And their solution to this divergence of results is wanting to buy TAP, *yet* another PIIGS-based carrier ?

Well I think they're playing the long game over at IAG.

RE: IAG 2011 Results

Posted: Thu Mar 01, 2012 10:14 am
by PezySPU
One important thing in this Aviation Week article:

http://www.aviationweek.com/aw/gener...comm&id=news/avd/2012/03/01/02.xml

"Walsh says IAG does not have any plans for further acquisitions right now. “You can ignore anything you can read in the press,” he told analysts in a conference call."

So I guess TP is in safe hands of LH for now...

RE: IAG 2011 Results

Posted: Thu Mar 01, 2012 11:48 am
by LHRFlyer
Quoting PezySPU (Reply 11):
"Walsh says IAG does not have any plans for further acquisitions right now. “You can ignore anything you can read in the press,” he told analysts in a conference call."

So I guess TP is in safe hands of LH for now...

I think that's more of a reference to AA and Kingfisher.

If the privatisation process for TAP ever gets underway (for IAG the delay is actually helpful given what it has on its plate at the moment), IAG will at least have a look at the books. They would be negligent not to do so.

RE: IAG 2011 Results

Posted: Thu Mar 01, 2012 3:27 pm
by PezySPU
Yeah, they mention AA in the article, but IT? Did they ever state intentions to invest in IT? Personally, if I was Walsh, I would steer clear away from that sinkhole.

RE: IAG 2011 Results

Posted: Thu Mar 01, 2012 4:09 pm
by LHRFlyer
Quoting PezySPU (Reply 13):
Did they ever state intentions to invest in IT?

There have been unattributed comments in the press in India that IAG was looking an investment in Kingfisher which, as you say, IAG would not touch with a bargepole.

RE: IAG 2011 Results

Posted: Thu Mar 01, 2012 7:02 pm
by PezySPU
Okay, that makes perfect sense.

So it's "wait and see" regarding AA, "ignore the media" regarding IT and "could be more interested" regarding everything else.