IAG projects medium-term operating margin of 12-15%

Aer Lingus and British Airways-owner IAG said today it would see a medium-term operating margin of 12% to 15%.

It also said its outlook for the 2023 financial year remained unchanged after strong results in its third quarter as it opened its capital markets day.

European airlines have reported strong earnings in their third quarters on the back of robust summer demand, but soaring jet fuel prices and political instability weighed on their outlooks and share prices.

IAG, which also owns Iberia and Vueling airlines, added that it projected a medium-term return on invested capital at 13% to 16%.

IAG’s chief executive Luis Gallego said the company was focused on extending its core leadership positions in the North Atlantic and South Atlantic through developing its hubs.

“Our transformation and investment plans will drive a step change across our businesses, delivering efficiencies and a market-leading customer experience. Executing our strategy will enable us to deliver sustainable growth and returns for our shareholders,” the CEO added.

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