4th Mar 2019 14:58
LONDON (Alliance News) - Shares in International Consolidated Airlines Group SA fell on Monday to a two-month low after the British Airways parent clarified that it expects lower free cash flow in 2019, correcting a comment made following its annual results last week.
IAG shares were down 3.9% at 579.60 pence, the worst performer in the FTSE 100 on Monday.
In a statement to investors and analysts, IAG said it expects equity free cash flow to fall in 2019 due to operating profit being similar to 2018 and capital expenditure rising to between EUR2.60 billion and EUR2.70 billion from EUR2.20 billion in 2018.
IAG had told an analyst call following its results on Thursday that free cash flow would rise in 2019, but subsequently issued the statement correcting that it will fall.
For 2018, IAG on Thursday reported operating profit before exceptional items rose to EUR3.23 billion from EUR2.95 billion in 2017.
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