IAG trims capital expenditure expectations
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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