IAG Shares Soar After Airline Group Unveils Upbeat Q3 Guidance

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Investing.com — London-listed shares in International Consolidated Airlines Group S.A. (LON:ICAG) jumped in afternoon trading on Thursday after the carrier group said it expects to deliver better-than-expected third-quarter results thanks to strong growth in passenger revenue.

In a preliminary earnings statement, the owner of British Airways and Iberia added that operating profit for the three-month period to September 30 before exceptional items will be “in the region of” €1.2 billion.

It previously anticipated that income during the period would improve “significantly” when compared to the second quarter.

Forward bookings, meanwhile, remain at expected levels for this time of year, IAG noted, with “no indication of weakness.”

As a result, the firm left its fourth-quarter estimates unchanged.

IAG will announce its full set of third-quarter results on October 28.