CLICK HERE TO VIEW AND ALSO PRINT OUT AS IF YOU WERE IN AN ASPIRE LOUNGE

1 AUGUST 2016

YOUR WORDS


Readers are invited to add their comments to any story. Click on the article to see and add.

BTN DISTRIBUTION

BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.

Index

Email this Page
Bookmark

The Business Travel News
PO Box 758
Edgware HA8 4QF
United Kingdom
+44 (0)20 8952 8383
info@btnews.co.uk
© 2021 Business Travel News Ltd.

Article from BTNews 1 AUGUST 2016

Walsh adds caution

IAG has trimmed growth plans for 2016 and given a cautious outlook for annual earnings due to weaker trading and the slump in sterling after Britain's vote to leave the European Union. It stated underlying second-quarter operating profit up 4.7% to €555m.

The group, which reports in euros but gets a third of its revenues from Britain, said its Q2 results were hit by a negative currency effect which would also impact third-quarter results, usually the most profitable time of the year thanks to the European summer holiday season. Chief executive Willie Walsh explained the cuts would be across the group which includes British Airways, Iberia, Vueling and Aer Lingus.

IAG said it expects 2016 underlying operating profit to rise by a "low double-digit" percentage. In February, it had forecast it would grow 2016 profit by more than €900m (US$998m), equivalent to a 40% rise on last year's result.

Walsh said IAG had seen more subdued demand for business travel in the run-up to and since the Brexit vote.

"It's unclear when UK corporates will regain confidence," Walsh told journalists. "It will have to happen… whether that's later this year or early next year, we'll have to wait and see." 

www.iairgroup.com

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum


No one has commented yet, why don't you start the ball rolling?


Add your comment

First Name
Surname
Email Address
Company (Not obligatory)
Country/City
Comment
- You must be a registered subscriber using the email address entered to submit a comment, or you will be sent a confirmation email before your comment will appear.
- Your comment will be checked before appearing, which may take several working hours.
www.btnews.co.uk