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IAG: stock dives after heavy quarterly loss

( - IAG (International Airlines Group) shares have dropped about 7% in London this morning after the group published an adjusted operating loss of 754 million euros for Q1 2022, a lot worse than the consensus, which expected a 510 million euro loss, Stifel says.

"With operated Q1 capacity and revenues in line, the Q1 miss is driven by higher ramp-up costs and, we believe, the operational disruptions BA experienced during the quarter," the broker explained.

However, noting that the airline continues to anticipate an operating profit in Q2, Stifel believes it "will still benefit from the strong transatlantic market recovery while being less exposed to the still largely closed Chinese market".

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