IAG15 Nov 2018 17:14
British Airways owner IAG said it will target a higher level of profits in the coming five years, with a higher capital spend and greater carrying capacity.
At an investor event on Friday, the airline group's management, led by chief executive Willie Walsh, will set out its plan to generate average underlying operating profits of €7.2bn per year, up from the previous target of €6.5bn for 2018-2022.
London and Madrid-listed IAG will increase investments, upping its average net capital expenditure per year to €2.6bn per annum, from €2.1bn previously, as it looks to bump up carrying capacity, to 6% annual growth in average seat kilometres compared to the 5% it previously was aiming for.