IAG: shares up slightly after in-line results
(CercleFinance.com) - International Airlines Group (IAG) shares are up just 0.
1% after the airline group unveiled in-line third-quarter numbers.
IAG's third-quarter operating profit came in at 1.42 billion euros, compared to 1.53 billion euros a year ago and in line with the consensus of 1.42 billion euros.
The quarter was heavily impacted by the strike of British Airways pilots, the company said, which together with other disruption at Heathrow airport knocked off 155 million euros from its operating profit.
Even so, total revenue rose by 2.4% to 7.3 billion euros in the past quarter.
At current fuel prices and exchange rates, IAG said it expects its 2019 operating profit before exceptional items to be 215 million euros lower than in 2018 (pro forma).
The London-listed IAG share is up 0.1% at 520.4 pence in morning trading.
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