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Posted: September 26, 2019
Be cautious buying the dips guys, there is still the threat of Balpa calling additional strike dates. That threat is not off the table, at this time. You saw where the SP went during the strike, so just bare that in mind.
FULL YEAR 2019 GUIDANCE UPDATE
International Airlines Group's (IAG) is updating its full year 2019 operating profit guidance based on recent events.
During September, BALPA's (British Airways main pilots' union) industrial action initially scheduled for the 9, 10 and 27 led to an initial cancellation of 4,521 flights over a period of seven days. Subsequently, 2,196 flights were reinstated leaving 2,325 cancellations. British Airways also introduced flexible commercial policies on 4,070 flights not directly affected by the industrial action. These policies enabled customers to re-book flights or receive a refund. The net financial impact of the industrial action is estimated to be €137 million. In addition, there were further disruption events affecting British Airways in the quarter, including threatened strikes by Heathrow Airport employees, which had a further net financial impact of €33 million.
IAG estimates that the latest booking trends in its low cost segments (primarily Vueling and LEVEL) will have an adverse financial impact of €45 million.
At current fuel prices and exchange rates, IAG therefore expects its 2019 operating profit before exceptional items to be €215 million lower than 2018 pro forma (€3,485 million). Passenger unit revenue is expected to be slightly down at constant currency, compared to flat guidance previously, and non-fuel unit costs are expected to improve at constant currency, unchanged from previous guidance. Capacity growth, measured in ASKs, for the fourth quarter is now expected to be about 2 per cent, which is 1.2 points below previous guidance, and full year capacity growth is expected to be about 4 per cent, compared to 5 per cent previously.
There have been no further talks between British Airways and BALPA. The airline's offer of a 11.5 per cent pay increase over three years still stands and has been accepted by British Airways' other unions, representing 90 per cent of the airline's employees. Clearly any further industrial action will additionally impact IAG's full year 2019 operating profit.
Willie Walsh, IAG's chief executive, and Steve Gunning, IAG's chief financial officer, will host an analysts' conference call at 07:30am UK time (08:30am CET) on Thursday 26 September.
Opinion: No Opinion
Posted: September 6, 2018
RNS Number : 0583A
International Cons Airlines Group
06 September 2018
THEFT OF CUSTOMER DATA AT BRITISH AIRWAYS
International Airlines Group's subsidiary, British Airways, is investigating, as a matter of urgency, the theft of customer data from its website, ba.com and the airline's mobile app. The stolen data did not include travel or passport details.
From 22:58 BST August 21 2018 until 21:45 BST September 5 2018 inclusive, the personal and financial details of customers making bookings on ba.com and the airline's app were compromised.
The breach has been resolved and ba.com is working normally.
British Airways is communicating with affected customers and the airline advises any customers who believe they may have been affected by this incident to contact their banks or credit card providers and follow their recommended advice.
British Airways has notified the police and relevant authorities.
Alex Cruz, British Airways' Chairman and Chief Executive said: "We are deeply sorry for the disruption that this criminal activity has caused. We take the protection of our customers' data very seriously."
British Airways will provide further updates when appropriate.