Equities By Region Transport and Tourism UK

IAG share price takes off as group’s operating profit rises

Shares in International Consolidated Airlines Group (LON:IAG) have climbed higher in London this morning, with investors cheering a rise in the company’s quarterly operating profit, even as fuel costs surged. The group, however, has disclosed that an investigation into the data theft at its British Airways unit showed that the personal information of  a further 185,000 customers may have been stolen.

As of 09:56 BST, IAG’s share price had added 2.59 percent to 602.60p. The shares are outperforming the broader UK market, with the benchmark FTSE 100 index having fallen deep into the red and currently standing 1.53 percent lower at 6,896.96 points.

IAG posts third-quarter results

IAG announced said in a statement this morning that its third-quarter operating profit had come in at €1.46 billion, compared with €1.45 billion in the prior-year period, while passenger unit revenue for the quarter had climbed 1.3 percent, or 2.4 percent in constant currency. Fuel unit costs for the quarter, however, surged 14.3 percent, or 15 percent at constant currency.

“These were strong results despite significant fuel cost and foreign exchange headwinds,” the group’s chief executive Willie Walsh commented in the statement, adding that the company was “pleased to announce an interim dividend of 14.5 euro cents per share”.

BA customer data theft update

The results came as the company, which also owns Iberia, Aer Lingus and low-cost carriers Vueling and Level, said that its investigation into a data theft at its British Airways airline had showed that hackers may have stolen additional personal data. The British flag carrier is therefore notifying the holders of 77,000 payment cards, that the name, billing address, email address, card payment information, including card number, expiry date and security codes have potentially been compromised, and a further 108,000 without the security code. 

As of 10:04 BST, Friday, 26 October, International Consolidated Airlines Grp share price is 606.20p.

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