Latest News

BA-owner IAG quarterly revenue beats projections

British Airwaysowner IAG's. quarterly operating earnings jumped 15%, whipping. forecasts, and it was upbeat on travel demand, forecasting that. its strong financial efficiency would continue for the rest of. the year.

For the three months to end-September, its busiest season,. IAG published operating profit of 2 billion euros, well above a. agreement forecast of 1.78 billion euros, assisted by greater. ticket prices and lower fuel rates. Expense savings offset a. greater wage bill.

IAG, which also owns Iberia, Vueling and Aer Lingus,. likewise on Friday announced a 350 million euro share buyback.

Demand remains strong throughout our airlines and we expect. an excellent last quarter of 2024 financially, Chief Executive Luis. Gallego said in a declaration.

IAG's outperformance contrasts with Air France-KLM. and German group Lufthansa, both of which. had a hard time over the summer with greater costs.

Air France on Thursday reported a bigger-than-expected. drop in its quarterly revenue and warned that expenses would can be found in. greater than previously forecast, while Lufthansa recently. reported a 9% drop in quarterly earnings on increasing expenses and. airplane shipment delays.

(source: Reuters)