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