IAG posts 'strong' 1H results, resumes dividends

(Sharecast News) - IAG described its performance during the first half of 2024 as "strong" and announced the restart of dividend payments. For the three months ending on 30 June, the carrier posted a 7.8% jump in revenues to reach approximately €8.3bn (UBS: €8.2bn).

Operating profits for the latest three months came in at €1.24bn or 0.8% lower, but were nevertheless ahead of UBS analyst Jarrod Castle's estimate for €1.01bn.

Profit before tax of €909m beat Castle´s estimate of €673m.

IAG also disclosed a "significant" increase in free cash flow for the half to reach €3.2bn.

Overnight, the carrier had withdrawn its bid to acquire Air Europa, arguing that doing so was in the best interests of its shareholders.

A three euro cent interim dividend was approved.

-- More to follow --