International Airlines Group (IAG) becomes the ‘red lantern’ of the Spanish stock market. The ‘holding’ to which Iberia, British Airways, Vueling, Aer Lingus and Level belong yields more than 3% after 10:00 a.m. and stands at 1.81 euros, after presenting the annual results for 2022, fiscal year in which he returned to the path of profit after the pandemic hit.
The publication coincides with the announcement of the agreement with Globalia for the purchase of the remaining 80% of the capital that it did not control of Air Europa for 400 million, a figure that is added to the 100 million already disbursed for 20% of the capital a few months ago. . In total, the acquisition has been carried out for half of what was agreed in the initial negotiations back in 2019.
IAG traces the two-year slump caused by the covid that led it to accumulate losses of more than 9,800 million. According to Renta4 analysts, IAG’s results exceed forecasts, confirming the good tone of the recovery, while net debt fell in the fourth quarter against expectations, the level of liquidity is very high and the level of Coverage seems appropriate to us.
Regarding the closing of the agreement for the purchase of the aforementioned airline, Renta 4 analysts believe that it is positive for IAG since it improves IAG’s competitive position on Europe and Latin America routes and opens new destinations in Asia, offers significant synergies, without quantifying and that would be achieved between 2026 and 2028 and allow the Madrid operations center to compete with the largest aviation centers in Europe.
For their part, Bankinter analysts have considered the agreement “good news” because it clears up the sense of uncertainty, and also considering that “it has a strategy, since it would allow the creation in Madrid of a large intercontinental center between Europe and Latin America, preventing In addition, the entry of other operators that can harm competition.
Amadeus pushes the selective
The other side of the trading session coin is represented by Amadeus. The provider of technological solutions for the tourism sector registers an advance of 3.5% and the price of its titles stands at 57 euros. The group has presented its annual accounts for 2022, according to which it earned 664.3 million euros compared to losses of more than 122 million suffered in 2021.
As Bankinter analysts have highlighted, Amadeus’ figures have been in line with expectations and they have stressed that they see positive that the company publishes future guidance for the first time since the pandemic began, which shows the recovery of the Future visibility of your business. Bankinter, for its part, points out that these figures “do not represent relevant surprises”, but rather that they are on a line of positive recovery that will lead it to return to pre-pandemic levels at the end of 2023 or the beginning of 2024. So far this year Amadeus accumulates a revaluation of 17.5%.
