IAG shares hit a two-month low on Monday after the owner of British Airways and ...
FILE PHOTO: British Airways logos are seen on tail fins at Heathrow Airport in west London, Britain, February 23, 2018. REUTERS/Hannah McKay
LONDON - IAG shares hit a two-month low on Monday after the owner of British Airways and Iberia issued a clarification to say its 2019 free cash flow would be lower than last year. IAG said that it had clarified its commentary around free cash flow, saying that it would be lower in 2019 as it was increasing capex against a forecast of flat operating profit.Broker Goodbody said there had been confusion during a call with analysts last Thursday after IAG’s full-year results, due in part to the adoption of new accounting standards.
The airline said it expects equity free cash flow to fall this year due to operating profits being similar to 2018 and an increase in capex to 2.6 billion-2.7 billion euros from 2.2 billion euros in 2018. Reporting by Helen Reid and Alistair Smout; writing by Josephine Mason; editing by Jason Neely and Alexander Smith
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