Shares in IAG also climb after the news
Shares in British Airways-owner IAG soared as it posted a jump in quarterly profit, boosted by favourable foreign exchange movements. IAG reported operating profit before exceptional items of €280m in the three months ended March 31.
IAG’s share price had opened at 2.9 per cent in early trading but climbed to 3.6 per cent after the announcement.
In today’s today, the group made no reference to the group’s potential takeover of low-cost competitor Norwegian. IAG had acquired a 4.6 per cent stake in struggling Norwegian in April with a view to starting takeover discussions.