IAG share prices hit as it misses profit forecasts

IAG shares fell three percent in morning trading today after the British Airways owner missed forecasts for its second-quarter operating profit.

IAG said that profits were up six per cent to €835m (£742m) for the six months to 30 June, but this came in slightly below the consensus forecast of €848m.

This was due to negative currency moves and a 20 million euro hit at Vueling from the disruption caused by French Air Traffic control strikes, IAG added.