IAG: solid Q3, but lack of targets disappoints
(CercleFinance.com) - On Friday, IAG reported "record" Q3 profit, although failed to unveil any quantified targets for FY 2023, leaving investors disappointed.
The airline reported operating profit before exceptional items of E1.75bn for the quarter, up over 43% from E1.22bn a year ago, and above the consensus of E1.57bn.
Unit revenue per passenger rose by 2.2% on the strength of leisure travel, while fuel costs fell by 6.2%.
However, the owner of Aer Lingus, British Airways, Iberia and Vueling refrained from providing precise full-year forecasts.
The group merely said that it was aiming for a "strong recovery" in margins, operating profit and balance sheet this year, with capacity expected to return to near pre-Covid levels.
Following this publication, with investors feeling a bit left in the lurch, IAG shares were down 1.6% in early trading on Friday.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The airline reported operating profit before exceptional items of E1.75bn for the quarter, up over 43% from E1.22bn a year ago, and above the consensus of E1.57bn.
Unit revenue per passenger rose by 2.2% on the strength of leisure travel, while fuel costs fell by 6.2%.
However, the owner of Aer Lingus, British Airways, Iberia and Vueling refrained from providing precise full-year forecasts.
The group merely said that it was aiming for a "strong recovery" in margins, operating profit and balance sheet this year, with capacity expected to return to near pre-Covid levels.
Following this publication, with investors feeling a bit left in the lurch, IAG shares were down 1.6% in early trading on Friday.
Copyright (c) 2023 CercleFinance.com. All rights reserved.