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International Consolidated Airlines Group SA on Thursday said its trading in the third quarter was ‘better than expected’.
Shares in the FTSE 100-listed airline and parent of British Airway were trading 8.3% higher at 109.07 pence each on Thursday afternoon.
The company said it now expects its pre-exceptional operating profit for the third quarter to be around €1.2 billion due to passenger revenue strength.
Forward bookings remain at expected levels for the time of year, the company noted. As a result, its fourth quarter expectations remain unchanged.
In its second quarter results, IAG swung to a profit as it benefitted from the recovery of the tourism business after the Covid-19 pandemic. Operating profit before exceptional items was €467 million in the first half, swung from a €2.18 billion loss a year before.
However, for the half year it remained loss making.
Earlier Thursday, easyJet PLC said it will post a narrowed loss for the full year. easyJet explained that the loss in the recent year includes a £64 million FX loss from balance sheet revaluations and incremental disruption costs of £75 million, mainly from operational issues experienced across the industry in its third quarter.
It pointed out that its easyJet Holidays division generated £35 million profit.
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