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


British Airways logos are seen on tail fins at Heathrow Airport in west London, Britain, February 23, 2018. REUTERS/Hannah McKay/File Photo Acquire Licensing Rights

LONDON, Nov 21 (Reuters) – British Airways-owner IAG on Tuesday said it would see a medium-term operating margin of 12% to 15%, while 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 added that it projected a medium-term return on invested capital at 13% to 16%.

Reporting by Joanna Plucinska, Editing by Louise Heavens

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