British Airways Owner Cuts Outlook On Brexit

Fahad Shabbir (@FahadShabbir) Published July 29, 2016 | 03:12 PM

British Airways owner cuts outlook on Brexit

LONDON, (UrduPoint / Pakistan Point News - 29th july,2016) - International Airlines Group, owner of BA and Iberia, lowered its annual earnings forecast on Friday following the recent Brexit vote. The group, which also owns Ireland's Aer Lingus and Spain's Iberia, predicted that operating profit would see "low double-digit percentage growth" in 2016.

That contrasted sharply with the 70 percent increase that was forecast prior to the shock June 23 EU exit vote. IAG had already warned one day after the referendum that it would unlikely meet its target, given the slumping pound and post-Brexit economic uncertainty.

Facebook Twitter Reddit Pinterest Whatsapp

Prize Bonds

PSX 100 Index

Currency Rates

Gold Prices

Petrol Prices

Crypto

Recent Stories

Olympic Games Paris 2024: How teams qualified

Olympic Games Paris 2024: How teams qualified

LESCO detects 74,285 power pilferers in 219 days

LESCO detects 74,285 power pilferers in 219 days

RTO destroys huge quantity of non-duty paid cigar ..

RTO destroys huge quantity of non-duty paid cigarettes

Rain-windstorm/thunderstorm expected in most parts ..

Rain-windstorm/thunderstorm expected in most parts of country: PMD

Govt committed to developing gems, jewellery secto ..

Govt committed to developing gems, jewellery sector: Minister

Three new bills introduced in Senate

Three new bills introduced in Senate

Nine dead, 1,318 injured in Punjab road accidents

Nine dead, 1,318 injured in Punjab road accidents

Ukraine, Russia exchange fire, at least seven dead

Ukraine, Russia exchange fire, at least seven dead

1st-ever National Sports Revival conference starts ..

1st-ever National Sports Revival conference starts next month

Joint venture decided for action against MEPCO’s ..

Joint venture decided for action against MEPCO’s defaulters

Modern irrigation system imperative to deal with w ..

Modern irrigation system imperative to deal with water scarcity: UAF VC

Bringing 4.4mln hectares suitable land under olive ..

Bringing 4.4mln hectares suitable land under olive cultivation to address econom ..