IAG shares boosted by IATA air traffic stats
International trade body, the IATA, announced on Thursday that much of August's rise in premium passenger numbers came from the North Atlantic, where British Airways, an airline owned by IAG, dominates.
International trade body, the IATA, announced on Thursday that much of August's rise in premium passenger numbers came from the North Atlantic, where British Airways, an airline owned by IAG, dominates.
During August of this year the number of passengers flying on premium seats climbed 8.5% compared to the same month in 2011. Economy class travel figures also improved, although not quite to the same extent.
The IATA said that the rise in premium travel was narrowly based, with much of the increase coming from within Europe and across the North Atlantic.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
However, it added that this may have been partly attributable to the numerous flight cancellations that occurred across the North Atlantic in August last year, leading to a particularly weak month for airlines working in that region.
Premium travel across the North Atlantic increased 4.8% in August year-on-year, having contracted 2.9% in July, the IATA said. The North Atlantic route accounted for 18.6% of traffic and 23.5% of revenues during the four-week period.
IAG shares rose 2.03% to 160.80p by mid-afternoon.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Can Stella Li keep the Stella Show on the road?Stella Li is the globe-trotting ambassador for Chinese electric-car company BYD, which has grown into a world leader. Can she keep the motor running?
-
Three overlooked stocks with long-term growth potentialOpinion Nisha Thakrar, investment specialist at Nedgroup Investments, selects three undervalued stocks with long-term growth potential
