IAG: stock flies above heavy losses in 2020

(CercleFinance.com) - International Airlines Group, which operates airlines such as British Airways and Iberia, reported a heavy loss for the FY 2020 on Friday.


This morning the group announced an operating loss excluding exceptional items of nearly 4.4 billion euros, compared to a profit of about 3.3 billion euros a year ago.

Note that the consensus expected a greater loss of around 4.8 billion euros.

As is the case for most tourism and transport players, IAG lost money last year due to the collapse of passenger traffic, which resulted in a 70% dive in revenues.

Analysts say that sector visibility remains "limited".

However, on the prospect of pent-up demand, with bookings quickly reacting to changes in travel restrictions, the IAG share seemed to be flying high, above all the gloom and doom, with it up over 5% in London on Friday, continuing with its recent rally, boosted by the prospect of a reopening of the British economy this summer.


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