‘Holding’ IAG celebrates this Tuesday’Capital Markets Day’. The company will announce the following at a meeting with investors behind closed doors in London: priorities raise 1.5 billion euro operating profit In Spain, as reported in a short statement the company sent to the National Securities Market Commission (CNMV). This means: two figures before the pandemicMost of the business in this region consists of airlines Iberia and vueling, whose joint profit was recorded 737 million euros in 2019.
In the first six months of this year, two Spain-based airlines achieved higher operating profits compared to the first half of 2019. Iberia, The airline, commanded by Fernando Candela, registered 255 million more than at that time, bringing the total to 372 million euros. Second quarter “highest profit in history”With 307 million euros. Vueling achieved a further €91 million in the half-year, for a total of €96 million.
The group does not set a date for achieving this target, beyond the reference to reaching the €1.5 billion target in the “medium term”. However, the presentation to investors also includes the acquisition. spanish airline Air EuropeIt aims to give greater strength to Spanish business, above all in connection with: Latin AmericaAs the group’s CEO has explained many times, Luis GallegoThe architect of this acquisition in 2020, while he was president Iberia
Beyond focusing on the Spanish market, when it comes to one of the big brands, British AirwaysThe group aims to invest 850 million pounds (about 973 million euros) between 2014 and 2016 “To continue to deliver robust operations as well as continue to improve the offering to the customer.” In total, the British company will invest over £7 billion in transformation initiatives between 2024 and 2026, including the fleet.
The other two legs of the strategy are IAG Loyaltyher loyalty program Offering “high margins, low capital growth and sustainable cash flow with a less seasonal profit profile than airlines” company transformation through “efficiency of operations and customer experience.”
“We are focused on expanding our scope” leadership positions We operate in the North Atlantic and South Atlantic, developing our centers and also enabling IAG Fidelity to reach its full potential within the group. Our plans transformation and investment They will drive radical change across all our businesses, creating efficiency and a market-leading customer experience. “The implementation of our strategy will allow us to deliver sustainable products, growth and profitability to our shareholders,” he said. Luis Gallego.