(RTTNews) – Airline holding firm Worldwide Consolidated Airways Group S.A. (IAG.L) reported that its revenue after tax for the third quarter elevated to 1.44 billion euros from 1.23 billion euros within the earlier yr.
Whole revenues for the third quarter grew to 9.33 billion euros from final yr’s 8.65 billion euros, primarily attributable to increased passenger income, with an enchancment in Cargo income and Upkeep, Restore and Overhaul (MRO) income at Iberia.
Passenger income per out there seat kilometre (‘ASK’) for the third quarter was 1.2% increased than within the third quarter of 2023, regardless of an exceptionally sturdy comparative quarter in 2023.
The corporate introduced a share buyback program of 350 million euros. This system will likely be executed by the acquisition of shares, together with 262 million euros for market purchases and 88 million euros for purchases from Qatar Airways. This system will begin on 11 November 2024 and finish no later than 28 February 2025.
The corporate expects deliberate capability progress of roughly 5% for the fourth quarter, with a complete progress of round 6% for the total yr.
The corporate expects its sturdy monetary efficiency to proceed for the remainder of the yr.
The corporate expects capital expenditure in 2024 to be round 3.1 billion euros, with 20 plane to be delivered within the yr, together with 4 within the fourth quarter.
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