Stock Track | IAG Soars on Strong Q3 Results and New Share Buyback Program

Stock Track11-08

Shares of International Consolidated Airlines Group (IAG), the parent company of British Airways, soared 5.26% in pre-market trading on November 8, 2024. The surge came after the airline group reported robust third-quarter results and announced a new share buyback program, reflecting its confidence in the company's long-term prospects.

IAG reported a 7.9% increase in total revenue for the third quarter of 2024, driven by strong demand in its core markets, particularly on the lucrative North Atlantic and London-New York routes. The company's operating profit rose 15.4% to over €2 billion, surpassing analysts' expectations.

In addition to the impressive financial performance, IAG announced a new share buyback program worth €350 million, scheduled to commence on November 13, 2024. The buyback plan, which includes purchasing shares from both the open market and Qatar Airways (to maintain its 25.143% stake), underscores the company's belief in its strategy, business model, and long-term prospects.

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The surge came after the airline group ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IAG","symbol_name":"IAMGOLD Corp","start_time":0,"source_url":"","article_id":"1168821239","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1168821239","pubTimestamp":1731073107,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of International Consolidated Airlines Group , the parent company of British Airways, soared 5.26% in pre-market trading on November 8, 2024. 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