Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  International Consolidated Airlines Group    IAG   ES0177542018

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

International Consolidated Airlines : Wow Air chief to weigh up potential IPO

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/06/2017 | 05:38pm CET
Skuli Mogensen, CEO of WOW air, poses with cabin crew members during a delivery ceremony of his first Airbus A321neo, during the 52nd Paris Air Show at Le Bourget Airport near Paris

Icelandic transatlantic budget carrier Wow Air is considering a possible initial public offering (IPO) in 2019, its CEO told Reuters on Monday, as it explores opportunities for the fast-growing business.

Wow Air is one of a new breed of carriers that have focused on low-cost travel across the Atlantic, prompting traditional long-haul players such as British Airways parent IAG to set up new operations or change pricing structures.

Wow Air, which also competes with Norwegian Air on transatlantic routes, connects Europe and North America via its hub in Reykjavik, often with smaller A320 jets typically used for short-haul flights.

Founder and CEO Skuli Mogensen said the Wow Air's rapid expansion means he will start exploring options for the business from next year and will be ready to act in 2019.

"By 2019 we'll do about a billion in revenue, in U.S. dollars. So that's when we're hitting a point where we'll be an interesting size to go public," Mogensen told Reuters on the sidelines of the World Travel Market event in London.

"To continue our growth we will have to look at various opportunities to find a strategic partner, go public, et cetera. We haven't really selected which path to take."

Mogensen, Wow Air's sole owner, said that possible partners had already expressed an interest in getting involved with the company, adding that he would not sell the airline.

The company is also interested in acquiring collapsed airline Monarch's slots at Gatwick for flights between Iceland and London, Mogensen said.

Wow Air, founded in 2011, flew 1.6 million passengers last year and is forecasting a near-doubling of that to more than 3 million this year.

It currently operates 17 Airbus jets, its website says, including three long-haul A330 planes that it uses to fly to California.

Mogensen said that the focus for growth would remain on routes to North America, which now account for about 50 percent of its network, though four new A330-900neos to be leased next year could also offer routes to Asia.

Mogensen said he expects ancillary revenue eventually to exceed $60 per passenger, which could supplement squeezed margins on transatlantic routes.

"If you are willing to be a little bit flexible, a $99 (£75.4) fare is the new normal price. Everyone in the industry is getting smarter, and those who don't simply fail."

(Reporting by Alistair Smout; Editing by Victoria Bryan and David Goodman)

By Alistair Smout

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on INTERNATIONAL CONSOLIDATED
11/21 Death and the discount rate - UK companies weigh pensions tweaks
11/17 INTERNATIONAL CONSOLIDATED AIRLINES : British Airways supports Caribbean Tourism..
11/17 INTERNATIONAL CONSOLIDATED AIRLINES : British Airways Poll reveals etiquette gui..
11/17 BRITISH AIRWAYS - A NIGHT AT THE MUS : Stars align to celebrate gbp17 million mi..
11/16 GRAPEVINE : Musica gala
11/16 7 IN '17 : British airways celebrates raising gbp17million for comic relief
11/15 INTERNATIONAL CONSOLIDATED AIRLINES : SITA launches Blockchain airline research
11/13 INTERNATIONAL CONSOLIDATED AIRLINES : British Airways introduces airliner innova..
11/12 INTERNATIONAL CONSOLIDATED AIRLINES : Airlines and airports can use ‘smart..
11/12 WATCH : British Airways celebrates 85 years of flights to Israel
More news
News from SeekingAlpha
11/07 International Consolidated Airlines updates on traffic
11/06 International Consolidated Airlines (ICAGY) Investor Presentation - Slideshow
11/06 International Consolidated Airlines (ICAGY) Investor Presentation - Slideshow
10/28 International Consolidated Airlines Group's (ICAGY) CEO Willie Walsh on Q3 20..
10/27 International Consolidated Airlines reports Q3 results
Financials (€)
Sales 2017 22 891 M
EBIT 2017 2 952 M
Net income 2017 1 973 M
Debt 2017 1 861 M
Yield 2017 4,28%
P/E ratio 2017 7,00
P/E ratio 2018 6,28
EV / Sales 2017 0,69x
EV / Sales 2018 0,64x
Capitalization 13 998 M
Chart INTERNATIONAL CONSOLIDATED
Duration : Period :
International Consolidated Technical Analysis Chart | IAG | ES0177542018 | 4-Traders
Technical analysis trends INTERNATIONAL CONSOLIDATED
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 7,81 €
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
William Matthew Walsh Chief Executive Officer & Director
Antonio Vázquez Romero Chairman
Enrique Dupuy de Lôme Chávarri Group Chief Financial Officer & Executive Director
Patrick Jean-Pierre Cescau Senior Independent Director
James Arthur Lawrence Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
INTERNATIONAL CONSOLIDATED AIRLINES GROUP35.63%16 452
DELTA AIR LINES, INC.1.28%35 499
RYANAIR HOLDINGS PLC24.62%24 525
AIR CHINA LTD.44.44%21 284
UNITED CONTINENTAL HOLDINGS INC-20.14%17 408
DEUTSCHE LUFTHANSA129.30%15 940