IAG Has Stronger Outlook Than It Gets Credit for -- Market Talk

Dow Jones11-08

0826 GMT - British Airways owner IAG's North Atlantic passenger revenue helped the airline group beat third-quarter expectations, RBC Capital Markets analyst Ruairi Cullinane says in a research note. Group revenue was up 7.9% in the quarter on passenger revenue that grew 6.9%. The company's operating result of 2.01 billion euros was 13% ahead of company-compiled consensus, the analyst notes. IAG has a stronger outlook beyond 2024 than it is given credit for, Cullinane said. This is due to pricing potential from BA product measures and the scope for the recovery in business travel recovery to further improve, Cullinane says. Shares trade up 7.4% at 2.35 pounds. (pierre.bertrand@wsj.com)

(END) Dow Jones Newswires

November 08, 2024 03:26 ET (08:26 GMT)

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This is due to pricing potential from BA product measures and the scope for the recovery in business travel recovery to further improve, Cullinane says. Shares trade up 7.4% at 2.35 pounds. 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