Untitled Document

OREANDA-NEWS. July 02, 2015. AIRLINES GROUP, S.A. (“IAG”  or the “Company”) announces that it  has agreed to undertake a share buy-back programme (the “Programme”) in accordance with the authorisation granted by the  Annual General Shareholders’ Meeting held on 18 June 2015. The Programme will  be carried out in accordance with the provisions of Commission Regulation (EC)  No 2273/2003 of 22 December 2003 (“Regulation  2273/2003”) for the purposes of satisfying share awards made under the share-based  incentive plans of the IAG Group.
 

The  Programme will have the following characteristics:

     
  1. Regulated market: the shares will be purchased on the  London Stock Exchange (the “Exchange”).
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  2. Maximum number of shares: up to 22,000,000 shares, which represent 1.08% of  the Company’s share capital as of the date hereof.
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  3. Maximum consideration: the shares will be purchased at a  price not higher than the lower of (i) 5% above the average market value of the  shares (determined by reference to the average of the middle market quotations  for the shares as derived from the Exchange Daily Official List) for the five trading  days prior to the day the purchase is made; and (ii) the higher of the price of  the last independent trade and the highest current independent bid on the  Exchange.
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  4. Maximum volume: no more than 25% of the average daily  volume of the shares traded on the Exchange in the 20 trading days preceding  the date of purchase.
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  5. Duration: The Programme will start on 1 July 2015  and end no later than 30 April 2016.

The  Company will announce any market purchase of shares no later than 7.30 a.m. (GMT)  on the business day following the calendar day on which the purchase occurred.  Shares purchased under the Programme will be held in treasury.
 

Barclays  Capital Securities Limited (“BCSL”)  has been engaged to implement the Programme. BCSL will make the share purchases  on the Company's behalf and all trading decisions are to be made by BCSL  independently of, and uninfluenced by, the Company.