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BA owner IAG cuts capacity growth forecast
International Consolidated Airlines Group (IAG) has cut its growth forecast for the next few years in response to an expected slump in passenger capacity growth.
IAG, which owns British Airways, Aer Lingus, Vueling and Iberia, said growth in available seat kilometres (ASK) is expected to be 3.4%, down from a previous forecast of 6%.
It added average earnings per share growth would be 10% in the three years from 2020 to 2022, down from its previous estimate of 12%.
IAG’s operating profit margin forecast remains between 12-15%.
Year-on-year traffic increased 4.8% in October while capacity increased 2.7%.
In total, the group carried 10.4 million passengers in October compared to 10 million a year ago, with BA’s passenger numbers up 1.1% to 4.17m last month.
Load factor increased to 85% from 83.3%.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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