IAG trims capital expenditure expectations

IAG trims capital expenditure expectations View Gallery
Willie Walsh, chief executive, IAG

Airline group IAG, which owns Aer Lingus and British Airways, is to cut back on planned capital expenditure, it announced. The group is suffering from a “tough operating environment”, particularly the fall in sterling.

“FX is becoming a material headwind, mainly on the translation of sterling profits at British Airways, and recent exchange rate moves suggest this challenge will continue to grow.”

Gerald Khoo, analyst at Liberum

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