TalygarnTom
29 Jun 2016
Re: Brexit [link]
axel27
28 Jun 2016
withholding tax Has anyone with shares at iii completed the paperwork to reclaim withholding tax from the Spanish gov. Read iag website... Does Spain grabs 20% of the dividend of which I can get half back.Free trade my [email protected] did ba become Spanish company? Is that why share price is depressed? Am I missing something.Axel noting dyor before making investments awaiting laughter and castigation...A
axel27
27 Jun 2016
Re: Brexit Agree with the comments about revenue independence from sterling and now well out of pocket averaging down. Seems to be the same as my "oil" recovery investments last Nov, which bounced back...look at Shell now.Has anyone read the balance sheet and does this group have exposure to loans or such like in $ - aircraft purchases?
The buzz
27 Jun 2016
Re: Brexit Well well well - closed about 344p. I find that very surprising - picked up a few more at 356p when things seemed to be leveling out - and the market sneezes again. The fall is supposedly due to the RNS out today. It seems to be in code:-"Following the outcome of the referendum, and given current market volatility, while IAG continues to expect a significant increase in operating profit this year, it no longer expects to generate an absolute operating profit increase similar to 2015."As I read it, things will be better than last year but presumably some exceptional costs will pull things back. OK assume that EPS is still the same as last year at about 75.3c. Converting to £ gives about 63p. So at 344p we have a return of about 18%. That sounds very high - or have I missed something?.. but if one goes back to my postings of a few years ago when I said that the IAG did not have its recovery priced in properly - and they whizzed up later. Financially things are much stronger now with the Iberia integration, efficiency improvements and well in profits, I think that the potential rebound could be significant. The trouble is what price will IAG fall to - I don't think anyone knows - so I will continue to pick up some more as I suspect that the initial rebound will be very quick.The B
Otter2
27 Jun 2016
Re: UK now cheaper destination for tourists Hard to work out where these electronics might have come from; if not countries where they would have cost more with a reduced value GBP. On the other hand, if the visitors where here after - say - Melton Mowbury pies, then you would be spot on. Can't fail to admire your optimism on a another horrid day.
LESSONS NOT LEARNT
27 Jun 2016
UK now cheaper destination for tourists BUY, IAG does not only rely on UK passengers taking holiday , it also carried Americans to London.. at GBPUSD 1.30 it is not cheaper to buy some electronics in London than NYC
The buzz
24 Jun 2016
Re: Brexit Agreed. Now in 300 range as price is around 398p. Spread is a bit meaningless at the moment other than to say that it is about 0.6p. For what it is worth there appears to be a healthy mixture of buys and sells. Now 400p. Much will depend on what the US market makes of this - and whether there will be forced sellers out there? I suspect that today many people were caught out and had to close their positions and have artificially depressed the share price.The B
6 SKIN
24 Jun 2016
Re: Brexit I like you have been in IAG over the past few years and have make a good profit. The present downtrend although completely different in nature is similar to the Ebola virus. Then IAG tanked from 600 to 325 in a matter of days. This was short lived but was also an Armageddon moment at the time. IMHO the share price may drop down to the 300 range again and bounce back to 550 but this time over 6 to 9 months. IAG is well positioned in the worldwide market with currency opportunities and low oil prices likely to remain for a while. Time will tell.
The buzz
24 Jun 2016
Brexit No one has ventured an opinion, so here is my three halfpence worth:-I sold out some time go at a significantly higher price as I felt that IAG had had a good run and were approaching full value. Since then it has fallen back and today it has really tanked. Bought a few at 440p earlier as I felt that the fall had been overdone. Might top up shortly.I am sure that there are lots of reasons for the fall, but I felt that IAG would benefit from Brexit as the £ had fallen against the $ and Euro (eg a friend in Spain is very keen to come with the weaker £
making the UK a cheaper destination. US travellers are usually reasonably well off and may well buy premium seats on the key (for IAG) cross Atlantic travel market. No forgetting that the Spanish asset priced in Euros has now gone up in value. Plus throw in the 5% fall in the price of oil and IAG could benefit.Although many costs will be in US$, I presume that the wages bill is predominantly in £ sterling and many ticket sales are priced in US$, so IAG may well become more competitive??The negative aspects that I can think of could be less business travel if global economies stall with Brexit - but it is a long timescale for Brexit so the negative consequences are still unclear to me.The B
TalygarnTom
18 Jun 2016
Re: The Petition is gaining support This is the first I have seen of this issue. Have you written/e-mailed the editor of Investors Chronicle and asked them if they would consider writing an article on the issue?
JR710
27 May 2016
The Petition is gaining support Apologies for board hopping but-The petition is going quite well; ~5150 signatures so far. Although it really needs a turbo boost.[link] petition was stalled in parliament since 12th Aug 15; finally green lit on 12th feb 2016.The FCA don't even reply on the matter, now is your chance to have your say.If you hate seeing buys reported as sells etc!!!!!!Has already been sent to Martin Lewis, Daily Mail, Moneyweek & Watchdog.My local MP supported this petition by writing to the petitions committee to help un-stall it.There’s 650 MP’s in Westminster, So have you written to your MP? 649 to go!If this petition doesn’t reach 10,000; then imo we might as well have not bothered as it will almost certainly be filed B1N; @ 10,000 the government should respond. We are currently getting approx. 100 new signatures a week, but need 3x that amount to reach the target with only 15 weeks to go.So – If you haven’t yet signed or indeed have but haven’t passed it on to others, then now’s the time to do so. If each person who has signed can get just one other person to sign then we will double the total immediately. I have posted to all aim listed gas n oilies, currently doing the footsy 100. But I can only do so much to push this. Really need you guys & gals to help. Thanks to all who have signed so far.
Spain Fund
29 Apr 2016
Blew a raspberry instead of trumpet IAG Q1 pre-tax profits soar, but sees impact from Brussels attacksFrank PrenestiDate: Friday 29 Apr 2016LONDON (ShareCast) - (ShareCast News) - Airline group IAG said first quarter operating profits were €155m before exceptional items compared with €25m in 2015. Pre-tax profits were up to €124m from a loss of €37m.Results were boosted by a €181m contribution from Irish carrier Aer Lingus which was acquired in August last year.Chief executive Willie Walsh said January and February revenues were in line with Q4 2015 trends.March revenue was affected by the timing of Easter and the Brussels terrorist attacks with the latter continuing into the second quarter, which had led to a moderating of short term capacity growth plans, he added.The group also expects to reduce its underlying ex-fuel unit costs for the full year by around 1% and expects to generate an absolute operating profit increase similar to 2015.Passenger unit revenue for the quarter was down 3.5% and 4.7% at constant currency. Non-fuel unit costs for the quarter were up 1.3%. 
CP The Tiger
27 Apr 2016
Qatar Airways Raises IAG Stake [link]
leperky
17 Mar 2016
Willie walsh has put his hand.... ...in his pocket and bought £270K worth! Must be nice to have that amount lying around, but at least the fat dividend payments have been restored after years of absence....
Spain Fund
26 Feb 2016
HL COMMENT (26 FEBRUARY 2016) IAG, the group that owns BA, Iberia, Aer Lingus and Vueling of Germany has reported doubled Q4 operating profits of EUR530m and a 68% increase in full year operating profits to EUR2,335m (2014: EUR1,390m). IAG say that they expect to achieve a similar increase in absolute operating profit in the current financial year. Despite the prospect of an extra billion euros of profit, the shares slipped 4%.A final dividend of EUR10 cents was declared, making EUR20 cents for the full year.Divisional highlights:At constant currency, passenger unit revenue was down 3.5%, non-fuel unit costs were down 3.9% and fuel unit costs dropped 17.2%. Newly acquired Aer Lingus contributed EUR35m during the period that it was within the group.Each of the component airlines was profitable. BA generated the lion's share, with operating profits of EUR1,914m, Iberia made EUR247m, Vueling did EUR160 and Aer Lingus added EUR35m.The group saw some reduction in demand following the Paris terror attacks, but was still strongly profitable in the final quarter. The group commented that the industry is currently adding capacity, leading to a decline in unit revenues. Because fuel costs are falling faster, the industry is able to grow profit regardless and IAG is no exception.IAG faces a period of major fleet renewal in the years ahead, disclosing commitments to spend EUR16.1bn (2014: EUR11.6bn) on new aircraft out to 2022. New additions from Airbus will include 118 A320s, 43 A350s, 14 A330s and 2 A380 super-jumbos. IAG is also acquiring 29 Boeing 787 "Dreamliners".Our view:IAG is performing well, benefiting from economic growth, a favourable pricing environment on North Atlantic routes and the lower cost of fuel. Below the radar, it continues to restructure its operations, with Iberia still in turnaround and now Aer Lingus to begin the process. Aer Lingus has greatly strengthened BA's already dominant position at Heathrow.IAG is more lowly rated than many shares. It trades on just 6.9x 2016 earnings, according to the current Bloomberg consensus. The reason for that is that the market understands just how volatile airline profitability can be. First and Business class passengers contribute hugely to profits, and their custom turns off and on like a switch as the economy rises and falls.The problem is that all those aircraft have to be paid for, whether anyone is sitting in them or not. Deep recessions or global panics empty the plane, but the leases and the bank debts have to be serviced all the same.On price to book measures, which are a more conservative way of looking at the valuation of intensely cyclical, asset-heavy businesses like airlines, IAG is trading at 2.6x whereas historically, the rule of thumb is that below 1x is the safety zone. Right now, when everything is going well, IAG is benefiting from earnings upgrades. But if a bolt from the blue comes along, the market will punish airlines trading on high price to book multiples. So think of IAG as a fair weather friend, great fun when the party is in full swing, but not to be relied upon if the music stops.All yield figures are variable and not guaranteed.
