IAG Q3 revenues beat consensus, company announces 350m euro share buyback

IAG beat analysts' forecasts for topline growth in the third quarter and delivered strong guidance.

Total revenues for the three months to September rose by 7.9% to reach approximately €9.33bn (consensus: €9.1bn), for a 15.4% jump in operating profit to €2.01bn.

Company management described the carrier's financial performance during the quarter as "very strong", highlighting its "significant" free cash flow generation and guiding towards a "strong" performance for the remainder of the year.

"We achieved a very strong financial performance in Q3 2024, with a 15.4% increase in operating profit compared to the same period

last year and improving our margin to 21.6%. This is due to the effectiveness of our strategy and Group-wide transformation," IAG boss, Luis Gallego, said.

"Demand remains strong across our airlines and we expect a good final quarter of 2024 financially."

The carrier also announced a €350m share buyback programme.

-- More to follow --