(CercleFinance.com) – IAG reported Friday a ‘record’ profit for the third quarter but did not reveal quantified objectives for the 2023 financial year, which caused disappointment among investors.
The air carrier announced an operating profit before exceptional items of 1.75 billion euros for the past quarter, compared to 1.22 billion a year earlier, while analysts expected 1.57 billion.
Unit revenue per passenger rose 2.2% on strong leisure travel, while fuel spending fell 6.2%.
The owner of Aer Lingus, British Airways, Iberia and Vueling nevertheless refrained from providing precise forecasts for the entire financial year.
The group simply indicated that it was aiming for a ‘strong recovery’ in its margins, operating profit and balance sheet this year, with capacities expected to return to levels close to those before Covid. .
Following this publication, IAG shares listed on the London Stock Exchange fell 1.6% early Friday morning.
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