NOVEMBER 3RD, 2017

IAG Capital Markets Day 2017

International Consolidated Airlines Group (IAG) will update the market today (November 3, 2017) at its Capital Markets Day with the following key information:
Shareholder cash returns:
o IAG reinforces its strong equity free cash flow targets
o IAG has a strong balance sheet
Long-term planning goals for 2018-2022 include:
o Return on Invested Capital (real terms) targeting sustainable 15% (no change)
o An operating profit margin of 12% to 15% (no change)
o Average EPS growth of 12%+ per annum (no change)
o EBITDAR of approximately €6.5bn average per annum (compared to €5.3bn average per annum for 2016-2020 previously)
o Capex: average of €2.1bn per annum (compared to an average of €1.7bn per annum for 2016-2020 previously)
o Equity free-cash flow average of €2.5bn per annum (compared to an annual range of €1.5 to €2.5bn for 2016-2020 previously)
o ASK growth of approximately 5% per annum (compared to approximately 3% per annum for 2016-2020 previously)
o Gearing to be in the investment grade zone (no change)
The presentations from the Capital Markets Day can be accessed via www.iairgroup.com and a webcast of the event will be available today from 0900 GMT/1000 CET.