British Airways owner IAG to buy back shares after solid results
[LONDON] British Airways owner IAG reported operating profit in line with expectations on Friday, and said it would increase cash returns to shareholders through a stock buyback.
IAG said operating profit before exceptional items for 2016 was 2.5 billion euros (S$3.729 billion), up 8.6 per cent and roughly in line with expectations.
The airline group, which also owns Spain's Iberia, said it intended to carry out a share buyback of 500 million euros during the course of 2017.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche to open S$100 million ‘experiential centre’ in Changi by 2027
SIA Engineering H2 profit rises 11.5% to S$37.8 million on robust aviation MRO demand
Ford’s Lawler to hand over CFO role to ex-Lucid executive, transition to vice chair
Tata Motors Q4 profit jumps over three-fold
China’s Zeekr prices US IPO at top of range to raise US$441 million
BA-owner IAG projects strong summer after solid first quarter