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Annual report and accounts 2016

6 Our network Our

6 Our network Our business around the world +100million passengers flown to 279 destinations on 548 aircraft Our brands See pages 18 – 19 for more about British Airways See pages 20 – 21 for more about Iberia See page 22 for more about Vueling INTERNATIONAL AIRLINES GROUP Annual Report and Accounts 2016

7 IAG combines the leading airlines in the UK, Spain and Ireland. The airlines’ customers benefit from a larger combined network for both passenger and cargo. See pages 12 – 13 for more about our strategic objectives Strategic report Corporate governance Financial statements Additional information See page 23 for more about Aer Lingus See page 24 for more about Avios See page 25 for more about IAG Cargo www.iairgroup.com

  • Page 1 and 2: INTERNATIONAL AIRLINES GROUP The be
  • Page 3 and 4: Strategic report “2016 was a chal
  • Page 5 and 6: 3 Chairman’s letter A firm focus
  • Page 7: 5 Q A And, importantly, we have to
  • Page 11 and 12: 9 Operating highlights British Airw
  • Page 13 and 14: 11 Business model and strategy Maxi
  • Page 15 and 16: 13 4 5 6 Grow share of Europeto-Afr
  • Page 17 and 18: 15 The performance indicators prese
  • Page 19 and 20: 17 IT This year significant work ha
  • Page 21 and 22: 19 and additional summer aircraft a
  • Page 23 and 24: 21 This is why we have recently lau
  • Page 25 and 26: 23 Aer Lingus Making the most of ou
  • Page 27 and 28: 25 IAG Cargo Resilient performance
  • Page 29 and 30: 27 Risk management and principal ri
  • Page 31 and 32: 29 Risk Potential impact Management
  • Page 33 and 34: 31 Risk Potential impact Management
  • Page 35 and 36: 33 Financial overview A significant
  • Page 37 and 38: 35 However, continued weakness in t
  • Page 39 and 40: 37 Exchange impact before exception
  • Page 41 and 42: 39 By supplier cost category: Handl
  • Page 43 and 44: 41 Capacity 21% 11% 8% 60% Operatin
  • Page 45 and 46: 43 Cash flow € million 2016 2015
  • Page 47 and 48: 45 Sustainability Committed to our
  • Page 49 and 50: 47 UN Sustainable Development Goals
  • Page 51 and 52: 49 Aspect and link to SDGs Noise Wa
  • Page 53 and 54: 51 Air quality - electric tug trial
  • Page 55 and 56: “2016 has really tested the Group
  • Page 57 and 58: 55 I think we can be very proud tha
  • Page 59 and 60:

    57 James Lawrence Non-Executive Dir

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    59 The Group operating companies Av

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    61 The Board Secretary is Álvaro L

  • Page 65 and 66:

    63 Induction programme New director

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    65 Other statutory information Dire

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    67 The significant shareholders of

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    69 Report of the Audit and Complian

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    71 ICFR, which is a Spanish Corpora

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    73 The Committee’s responsibiliti

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    75 Report of the Safety Committee D

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    77 Despite a growth in share price

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    79 The table below summarises the m

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    81 Malus and Clawback Provisions Th

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    83 Service contracts and exit payme

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    85 Annual Remuneration Report Commi

  • Page 89 and 90:

    87 Additional explanations in respe

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    89 IAG PSP Award 2014 The IAG PSP a

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    91 Statement of Voting The table be

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    93 IAG’s total shareholder return

  • Page 97 and 98:

    95 The second performance condition

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    97 Incentive Award Deferral Plan Th

  • Page 101 and 102:

    Strategic Financial Statements Repo

  • Page 103 and 104:

    101 Consolidated statement of other

  • Page 105 and 106:

    103 Consolidated cash flow statemen

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    105 Consolidated statement of chang

  • Page 109 and 110:

    107 the Income statement. All other

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    109 b Other interest-bearing deposi

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    111 Employee leaving indemnities an

  • Page 115 and 116:

    113 IAG has initiated a project to

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    115 For the year to December 31, 20

  • Page 119 and 120:

    117 7 Auditors’ remuneration The

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    119 For the year to December 31, 20

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    121 c Reconciliation of the total t

  • Page 125 and 126:

    123 13 Property, plant and equipmen

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    125 16 Intangible assets and impair

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    127 Basis for calculating recoverab

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    129 19 Trade and other receivables

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    131 2 Floating rate euro mortgage l

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    133 depending on whether the employ

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    135 At December 31, 2016 the Group

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    137 27 Financial instruments a Fina

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    139 The carrying amounts and fair v

  • Page 143 and 144:

    141 December 31, 2015 Financial ins

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    143 31 Other reserves and non-contr

  • Page 147 and 148:

    145 Defined benefit schemes i. APS

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    147 d Fair value of scheme assets A

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    149 e Present value of scheme liabi

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    151 33 Contingent liabilities and g

  • Page 155 and 156:

    Spanish corporate governance report

  • Page 157 and 158:

    155 Indicate the most significant m

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    157 Explain any significant changes

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    159 B. SHAREHOLDERS’ MEETING B.1

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    161 C.1.3 Complete the following ta

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    163 Individual or corporate name of

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    165 When reviewing board appointmen

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    167 C.1.10 Indicate what powers, if

  • Page 171 and 172:

    169 Selection of directors In ident

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    171 C.1.20 ter List any business re

  • Page 175 and 176:

    173 C.1.31 Indicate whether the con

  • Page 177 and 178:

    175 C.1.36 No Outgoing auditor Indi

  • Page 179 and 180:

    177 C.1.42 Indicate and, where appr

  • Page 181 and 182:

    179 C.2 Board committees C.2.1 Give

  • Page 183 and 184:

    181 f. To establish the appropriate

  • Page 185 and 186:

    183 F. Other responsibilities: a. T

  • Page 187 and 188:

    185 c) Steps taken during the year:

  • Page 189 and 190:

    187 C.2.2 b) Functions The main fun

  • Page 191 and 192:

    189 D.4 List any relevant transacti

  • Page 193 and 194:

    191 E.2 Identify the bodies respons

  • Page 195 and 196:

    193 Main risk Government interventi

  • Page 197 and 198:

    195 Audit and Compliance Committee

  • Page 199 and 200:

    197 The financial risk assessment i

  • Page 201 and 202:

    199 F.3.2 Internal control policies

  • Page 203 and 204:

    201 F.4.2 Mechanisms in standard fo

  • Page 205 and 206:

    203 6. Listed companies drawing up

  • Page 207 and 208:

    205 21. The board of directors shou

  • Page 209 and 210:

    207 37. When an executive committee

  • Page 211 and 212:

    209 52. The terms of reference of s

  • Page 213 and 214:

    211 IAG Remuneration Policy complie

  • Page 215 and 216:

    213 Director Enrique Dupuy de Lôme

  • Page 217 and 218:

    215 Strategic Report Corporate Gove

  • Page 219 and 220:

    217 Name and address Principal acti

  • Page 221 and 222:

    219 Associates Name and address Han

  • Page 223 and 224:

    221 Strategic Report Corporate Gove

  • Page 225 and 226:

    223 Operating margin Overall load f

  • Page 227 and 228:

    225 In 2015, the definition of inve

  • Page 229 and 230:

    227 Sustainability indicators Indic

  • Page 231 and 232:

    Shareholder information Registered

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