IAG Shares Drop 2% After Middle East Impact Warning
IAG, the owner of British Airways, has issued a small profit warning. The company stated that higher fuel prices have impacted their ability to meet previously forecast profits. Bloomberg's senior editor Derek Wallbank noted an escalation in hostilities reflecting in immediate commodities markets, indicating the situation is 'going in the wrong direction' regarding a critical energy waterway.
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Sources · 7 independent
Bloomberg Radio
“BA owner IAG predicting some turbulence ahead. Yes, so they have issued a small profit warning this morning, actually, basically saying that the impact of higher fuel prices has meant that they aren't going to be able to make the forecast they previously seen.”
Bloomberg Radio
“IAG, the parent company of British Airways, its shares down over 2% after they warned of the impact of the Middle East on their full year.”
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