IAG says forward bookings still strong
Wednesday, 14 Oct, 2022
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Shares in British Airways parent International Consolidated Airlines Group took off after it revealed better than expected Q3 financials.
IAG expects operating profit to be around £1bn, with ‘no weakness ‘in forward bookings.
Shares in IAG rose as much as 10%.
Despite cost of living woes, sales and yields are holding up.
“Forward bookings remain at expected levels for the time of year, with no indication of weakness, and accordingly our fourth quarter expectations remain unchanged,” BA said.
“Trading during the third quarter has been better than expected due to passenger revenue strength.”
It was a ‘very welcome surprise ‘analysts said.
It will announce consolidated nine month results on 28 October.
IAG also owns Aer Lingus, Iberia and Vueling.
Ray Monty
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