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Thursday, November 7, 2019

BA-owner IAG cuts capacity growth forecast, hitting profit outlook

LONDON (Reuters) - British Airways owner IAG (L:ICAG) scaled back its forecast for capacity growth for the next three years on Friday, hitting its outlook for earnings per share as the prospects for the global economy remained weak.

IAG said that available seat kilometers, a measure of passenger carrying capacity, was estimated to grow 3.4% a year between 2020 and 2022, compared to a previous forecast of 6% growth a year for the 2019-2023 period.

The airline group, which also owns Iberia, Aer Lingus and Vueling, lowered its forecast for growth in earnings per share (EPS) to 10%+ a year from a previous forecast of 12%+ a year, due to the lower planned capacity growth.

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