International Consolidated Airlines Group SA (MEX:IAG)
MXN 30.24 0 (0%) Market Cap: 370.67 Bil Enterprise Value: 505.60 Bil PE Ratio: 6.19 PB Ratio: 3.68 GF Score: 61/100
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Half Year 2024 International Consolidated Airlines Group SA Earnings Call Transcript

Aug 02, 2024 / 08:30AM GMT
Release Date Price: MXN30.24
Luis Gallego Martin
International Consolidated Airlines Group SA - Chief Executive Officer, Executive Director

Good morning and welcome to the IAG half year report. Today I'm joined by Nicholas Cadbury, CFO, as well as members of the IAG management committee. Today, we are reporting a strong performance in the first half with profit of just over EUR1.3 billion, an increase of EUR49 million compared to a very strong performance last year, and this is because we are delivering on our strategy.

We continue to see a strong demand for travel in our core markets of North America, Latin America, and Intra Europe, which has delivered a positive unit revenue of 2.9% in the half. Our brands are doing well, being leader in their markets, and our ongoing transformation program is driving customer operational and cost improvement across the portfolio, particularly at BA. We are delivering on our promise of significant free cash flow generation.

And as a result, our balance sheet continues to get stronger. At this point, I will also highlight our decision to withdraw from the Air Europa acquisition

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