Sunday September 20, 2020

IAG trims capital expenditure expectations

6th November, 2016
2
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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